2019 is an odd numbered year and that means new tax assessments.
Notice of Valuations for all properties, except personal property, are sent out May 1st, so you should have already received yours. As Colorado homeowners are receiving their new Tax Assessments, many are surprised that the value of their home - and their new tax assessment - has increased drastically since 2017.
How is Property Tax Calculated?
The calculation of property tax is: Market Value of Property x Assessment Rate x Mill Levy = Property Tax
The most subjective part of this process is determining the properties “Market Value”.
The tax assessor’s office will look at market sales over the past 2 years in calculating the Market Value of the property. For 2019 the sales