Assessed Value x Mill Levy = Property Tax Due
To determine the tax due the Assessor first determines the ACTUAL value of your property. Then, a percentage is applied to the actual value in order to arrive at the ASSESSED value of your property.
- Assessed value for residential property = 7.15% of actual value
- Assessed value for commercial and business personal property = 29% of actual value
Your ASSESSED value is then multiplied by the current MILL LEVY to arrive at the property tax due. Mill levies are set around December 15th each year by the various Denver taxing authorities such as the school district, city council, or special districts.
- A mill = $1 for every $1,000 of assessed value
All taxable business personal and real estate property within Denver is subject to 74.618 mills for 2021 taxes due in 2022. If the property is located within a special district, local maintenance district, or business improvement district additional taxes are levied upon the property.