Frequently Asked Questions

The Constitution and state laws of Colorado established real and business personal property assessment procedures and requirements. The values determined by the Assessment Division for real and personal property are used in the calculation of property tax bills. The revenue raised through these property taxes is used to help pay for all public services including schools, police, libraries, and fire protection.

For residential properties, the Assessor’s Division appraisers study the sales of homes similar to yours which sold within a specific 24-month period. For commercial and industrial properties, the cost, market, and income approaches are considered and for business personal property, values are based on the asset information submitted directly by business owners.

Under Colorado law, all real property (land, buildings, improvements, etc.) must be re-appraised every two years. This occurs in each odd-numbered year (2023, 2025, etc.). The Assessment Division studies the prices of properties which sold during the 24-month period ending on June 30 of the year prior to the reappraisal. For example, 2025 values are based on properties which sold between July 1, 2022, and June 30, 2024. New values are set each year for personal property owned by businesses based on the information annually submitted by the taxpayers on personal property declarations.

The Assessment Division does not set property taxes or collect payments. However, we can provide the following general information about how your most recent property tax bill (2025 taxes payable in 2026) was calculated and how to estimate taxes according to changes from SB24-233

The major changes from 2024-2025 include removing the value reduction applied to actual value from all property types. For residentially classified properties, assessment rates were separated into local government and schools. 

To calculate taxes in 2025, Actual Value is multiplied by the appropriate Assessment Rate(s) to determine its Assessed Value. The Assessment Rates and mill levies are as follows:

The Assessed Value (less any exempted amount) in next multiplied by the applicable Tax Rate. In Colorado, tax rates are expressed as a decimal fraction of a dollar for every one dollar of Assessed Value.  Known as a mill levy, or mills, one mill is 1/1,000^th of a dollar or $0.001 (1/10^th of a penny). Mill levies greater than one mill are typically written as a whole number followed by three digits to the right of a decimal point. 

For 2025, Denver’s combined general mill levies including Denver Public Schools and the Urban Drainage District is 79.602 mills or a tax rate of 0.079602 for every $1 of assessed value.

In Denver, the typical single family home was valued at about $625,000. As a result, the property tax calculation using this valuation is as follows:

Local Government

(Actual Value less any exempted amount) x Assessment Rate x Mill Levy (Tax Rate) = Taxes

  $625,000 x 0.0625 x 0.027328 = $1,067.50

Schools

(Actual Value less any exempted amount) x Assessment Rate x Mill Levy (Tax Rate) = Taxes

$625,000 x 0.0705 x 0.052274 = $2,303.32

Local Government Taxes + Schools Taxes

$1,067.50 = $2,303.32 = $3,370.82

For commercial, vancant land, or other non-residential property types, the calculation is the same as the prior year. 

(Actual Value less any exempted amount) x Assessment Rate x Mill Levy (Tax Rate) = Taxes

($1,000,000) x 0.27 x 0.079602 = $21,492.54

Prior Year (2024) Tax Calculation

For 2024, the typical single-family home was valued at about $625,000. As a result, the property tax calculation using this valuation is as follows:

(Actual Value less Value Reduction) x Assessment Rate x Mill Levy (Tax Rate) = Taxes

($625,000 - $55,000 = $570,000) x 0.067 x 0.079202 = $3,024.72

Likewise, for 2024, an example of a commercial improved property (a commercial structure) using $1,000,000 for the Actual Value is as follows:

($1,000,000 - $30,000 = $970,000) x 0.279 x 0.079202 = $21,434.44

To determine new values for residential property (including single-family, multi-family and apartment properties) all Colorado assessors are required by law to use only the market approach to value. For 2025 property values, the sales prices of homes similar to yours which sold between July 1, 2022, and June 30, 2024, were studied. If the sales prices of those homes went up, then the actual value of your home likely showed an increase. 

The Assessor does not set property taxes or mill rates. Property taxes are determined by multiplying a property's assessed value by the millage or mill rate. Mill rates are set in December of each year by the various taxing authorities (City and County of Denver, Denver Public Schools, and any special districts).

State laws as well as other voter-approved measures impact the mill rate that is eventually adopted by each taxing authority. It is not possible to determine whether property taxes will increase or decrease until the various mill rates are determined in December of each year.

The Assessor determines the “actual” (or market) value for all real and personal property.  The actual value is then reduced by any applicable “value reductions” and by a percentage (known as the assessment rate) to derive the “assessed” value.  The basic formula is as follows:

              Actual Value (as determined by the Assessor)

              Less (-) Value Reduction (if applicable)

              Equals (=) Reduced Actual Value

                            Reduced Actual Value (from above)

                            Multiplied by (x) Assessment Rate

                            Equals Assessed Value

See FAQ “How are my property taxes calculated” for more specific examples.  

Information Management Team
Information Management (I.M.) Reps are available to assist the public Monday through Friday, 8:00 a.m.- 4:30 p.m. Information provided includes property ownership (owner name, mailing address, legal description, etc.) for real estate, as well as such items as the property characteristics for homes, including the style, year built, number of bedrooms and baths, square foot of living area, lot size and zoning. The  historical "chain of title" (names of previous owners) pre-dating website data (prior to 1987) is available from the Denver Public Library. Current maps of the neighborhood or the full subdivision are also available from the website or from the Division's GIS Mapping Team. Additional assistance in these matters is available from the website, the 311 Call Center at 720-913-1311 or in person at the front counter on the fourth floor of the Webb Building.

Under Colorado law, organizations which are charitable, educational, or religious in nature can be fully or partially exempt from property taxes. Simply having a non-profit status under federal IRS rules does not automatically carry an exemption from local property taxes. To apply for an exemption, call the State Division of Property Taxation at 303-864-7780 and request an exemption form. More information about exemptions can be found on the State of Colorado website.

You have the legal right to protest your property value if you believe it is incorrect. When you receive a Notice of Valuation, there will be instructions along with it explaining how you may submit a protest either in writing, in person, or over the Internet. The deadline to file for the current year by any method is June 8 annually (or by the next business day if June 8 falls on a holiday or weekend). When protesting, be sure to explain why you think your value is incorrect; please submit any information (such as sales of homes similar to yours or information concerning condition problems with your home, etc.), which will assist the Assessor in making a review of your value. Include your parcel/schedule number (which is shown on your Notice of Valuation) and a daytime phone number.

If you disagree with the Board's decision regarding your protest you may appeal to the State Board of Assessment Appeals, to District Court, or to binding arbitration (the choice is yours). Instructions on how to do so are included in the Board's determination regarding your protest.

You can protest up to two prior year values (for example, anytime during 2025 you could appeal your 2024 and 2023 values) if you did not already protest those values during the year(s) in question. This can be done by submitting a Board of County Commissioners’ Petition for Abatement or Refund of Taxes (available in the "Forms" section).