If you own a home in Colorado, you've no doubt opened the dreaded new property tax assessment notice. We all knew this was coming, but it's still a tough pill to swallow! As real estate agents, we want to make sure our clients understand how these changes will affect them.
We worked with our friends at Land Title to breakdown all things about Colorado's Property Taxes to share with all of you.
When and how much?
In late April, county assessors mailed out valuation notices based on property values as of June 30, 2022, which also happens to be close to when home values peaked in Colorado. On average, the increase is expected to be 25% to 27%, and in some counties (including resort markets) they may be as high as 65% or more.
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