Property Tax Experts
Copyright © 2007 LowTaxRate.com
For taxpayers who
may be
experiencing
difficulty in paying
their property
taxes, there may
be help.  Most
cities in the United
States have
Property Tax
Poverty Exemption
Policy and
Guidelines. You
may be eligible to
waive your annual
property tax for
one year
read more
Colorado Property Tax

A
Alamosa Arvada Aspen Aurora Avon
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B
Bailey Basalt Berthoud Boulder Breckenridge Brighton Broomfield Brush Buena Vista Burlington
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C
Canon City Carbondale Castle Rock Colorado Springs Commerce City Cortez Craig Crested Butte
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D
Delta Denver Dillon Durango
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E
Eagle Edwards Elizabeth Englewood Estes Park Evergreen
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F
Fort Collins Fort Lupton Fort Morgan Frisco
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G
Glenwood Springs Golden Granby Grand Junction Greeley Gunnison Gypsum
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H
Holyoke
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L
La Junta Lafayette Lamar Leadville Littleton Longmont Louisville Loveland
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M
Meeker Monte Vista Montrose Monument Morrison
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P
Pagosa Springs Parker Pueblo
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R
Rifle
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S
Salida Silverthorne Steamboat Springs Sterling
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T
Telluride Trinidad
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V
Vail
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W
Westminster Wheat Ridge Windsor Woodland Park Wray
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Y
Yuma  
Senior Property Tax Exemption

The homestead exemption for senior citizens is available to qualifying seniors and the
surviving spouses of seniors who previously qualified.  The three basic requirements are:
1) the qualifying senior must be at least 65 years old on Jan. 1 of the year in which he or
she qualifies; 2) the qualifying senior must be the owner of the record, and must have
been the owner of the record for at least ten consecutive years prior to Jan. 1; and 3) the
qualifying senior must occupy the property as his or her primary residence and must have
done so for at least ten consecutive years prior to Jan. 1.

In 2003, the legislature temporarily suspended funding for the senior exemption program.
Funding returns for assessment year 2006, for taxes payable in 2007. The exemption will
reduce the actual value of qualified residential property by 50 percent up to a maximum
reduction of $100,000.  The state pays the tax on the exempted value.  Qualified
individuals must file an application for exemption no later than July 15 of the year applied.
Once approved, the exemption remains in place until there is a change in ownership.
APPEALS PROCESS YOUR RIGHTS UNDER THE LAW!
If you disagree with the actual value placed on your property, you may present oral or
written objections to the assessor. Appeals for real property must be postmarked or
delivered to the assessor on or before June 1. Personal property appeals must be
postmarked by June 30 or submitted in person to the assessor by July 5. The assessor
must make a decision on your appeal and mail a Notice of Determination to you by the
last regular working day in June for real property and by July 10 for personal property.
Effective January 1, 2006, any county may elect to alter their real and personal property
appeal period by expanding the assessor’s time to answer appeals from the last
regular working day in June to the last regular working day in August. The extension
gives the assessors an additional 60 days to respond to taxpayers’ appeals. If you are
dissatisfied with the assessor’s decision, you can appeal to the county board of
equalization (county commissioners) by July 15 for real property and by July 20 for
personal property. The county board of equalization conducts hearings through August
5. The board must notify you in writing within five business days after its decision is
made.
CALCULATION OF PROPERTY TAXES ASSESSED VALUE

Statute provides that the actual value of property is not the taxable value. Rather, the
taxable value is a percentage of the actual value. The percentage is called an
“assessment rate,” and the resulting value is called the “assessed value.” The
assessment rate is 29 percent for all properties except residential and producing
natural resource properties. The residential assessment rate is established by the
legislature every odd-numbered year in order to maintain the tax burden balance
between residential properties and all other properties. It is currently 7.96 percent for
assessment years 2005 and 2006. Your property taxes are calculated by multiplying the
mill levy or tax rate by the assessed or taxable value of your property.

EXAMPLE: The actual value of Mr. Jones’ home is $200,000. The Notice of Valuation
shows the current residential assessment rate is 7.96 percent.

Actual Value x Assessment Percentage = Assessed Value
$200,000 x 7.96% = $ 15,920

To determine the amount of property taxes, multiply the assessed value times the
decimal equivalent of the total mill levy. Using the above examples, Mr. Jones’ taxes
would be calculated as follows: Assessed Value x Mill Levy = Taxes
$ 15,920 x .075541 = $ 1202.61
Colorado Property Tax Home Page
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