Determining Property Tax
Property taxes are determined by multiplying the assessed (taxable) value of your property by the tax rate. The tax rates are set by local government entities.
Assessed values are derived by multiplying the actual value of the property by 7.20% for residential property and by 29% for other property. The residential assessment percentage is subject to change by the Colorado Legislature, as required by the Gallagher amendment, each odd-numbered year. By constitutional mandate, the change in percentage maintains the present balance of the tax burden between residential and all other classes of taxable property.