Colorado Property Taxes 101: Your 2026 Guide

The Colorado Division of Property Taxation (CDPT) administers property taxes at the county level in Colorado. Your county assessor determines the actual value of your home — Colorado's statutory term for fair market value — which forms the basis of your tax bill.

Biennial Reassessment Cycle

Unlike states that reassess annually, Colorado law requires county assessors to update property values only in odd-numbered years. The resulting actual value applies to the following two consecutive tax years. This means the stakes of each reassessment are high: If your 2025 value is too high and you do not appeal, you will pay taxes on that figure through 2026 as well. However, if you missed the 2025 appeal deadline, you can still appeal in 2026.

Residential Assessment Rates

Colorado uses a split assessment rate system, unique among states. For the 2025 tax year, two residential assessment rates apply:

• 7.05% for school district levies
• 6.25% for all other local government levies

Your assessed value, the portion of your home's actual value subject to taxation, is calculated by multiplying actual value by the applicable rate. These rates have been adjusted by the Colorado General Assembly multiple times in recent years to moderate the impact of rising home values on tax bills.

Mill Levies and Overlapping Taxing Districts

Once the assessed value is established, local taxing entities apply their mill levies. A mill equals $1 of tax per $1,000 of assessed value.

Each district — your county, city, school district, fire district, water district, and others — sets its own mill levy independently through voter-approved measures or statutory authority.

A home within a city and a metropolitan district can fall under eight or more overlapping districts. That is why two neighbors in the same zip code can have meaningfully different total mill rates. You can look up your specific mill levy breakdown through your county assessor's website or the Colorado Division of Property Taxation.

Notice of Valuation (NOV)

Each May, your county assessor mails a Notice of Valuation (NOV) — the official document showing your property's actual value, the prior year's value, and the resulting assessed value. The NOV is the starting point for any appeal. If you do not receive yours by mid-May, contact your county assessor directly. Most counties also post NOV data through online property search portals.

The formula works in two steps:

Worked Example: $550,000 Property

The table below shows the before-and-after impact of a successful 10% reduction in actual value. Because Colorado's biennial cycle locks in your value for two years, savings compound across the full assessment period.

Example uses an 80-mill total levy for illustration. Actual rates vary by county and taxing district.

Effective tax rates vary across Colorado's counties. Front Range counties — where most of the state's population lives — have seen particularly sharp increases in recent reassessment cycles.

The rates below are drawn from Ownwell's Colorado property tax trends data and align with the Tax Foundation's 2024 analysis of property tax rates by state and county, which places Colorado's statewide effective rate below the national median.

Effective tax rates are approximate and based on median assessed values. Individual bills vary based on local mill levies and applicable exemptions. Appeal deadline is set by Colorado statute: C.R.S. § 39-5-122.

Colorado's exemptions are targeted rather than broad. Unlike some states, like Texas or Florida, the state does not offer a general homestead exemption available to all owners. Three programs are available to qualifying residents.

Senior Property Tax Exemption

Homeowners 65 or older who have owned and occupied their home as a primary residence for at least 10 consecutive years qualify for an exemption of 50% of the first $200,000 of actual value. On a $550,000 home, that exempts $100,000 from taxation.

Applications are filed with your county assessor by July 15 of the first year you qualify. Once approved, the exemption renews automatically each year as long as you meet the residency and ownership requirements.

Source: Colorado Division of Property Taxation — Senior Exemption.

Disabled Veteran Exemption

Veterans with a permanent, service-connected disability rated by the U.S. Department of Veterans Affairs qualify for the same 50% exemption on the first $200,000 of actual value. Surviving spouses of qualifying veterans may also be eligible if they have not remarried.

Source: Colorado Division of Property Taxation — Veteran Exemption.

Property Tax Deferral

Colorado's deferral program allows qualifying seniors (65+) and active-duty military to defer payment until the property is sold, with interest accruing at the rate set annually by the state treasurer. This program does not reduce your bill. The deferred amount becomes a lien on the property.

Source: Colorado Division of Property Taxation — Deferrals.

Colorado also participates in the Property Tax/Rent/Heat Credit (PTC) Rebate for low-income seniors and disabled residents.

Use our guide to property tax exemptions by state for a full state-by-state comparison.

Filing an appeal is the most direct way to lower your Colorado property tax bill. Ownwell's National Homeowner Survey found that 64% of U.S. homeowners were surprised or shocked by their most recent tax bill, and 3 in 4 have never appealed.

The window to act is short. Once you receive your NOV, you have a limited time to challenge the value. A missed deadline locks in your assessed value for the full two-year cycle.

Step 1: Review Your Notice of Valuation

Compare the actual value on your NOV against recent sales of similar homes in your area. Look for factual errors — incorrect square footage, lot size, bedroom count, or condition ratings. These mistakes are common and often the easiest to correct.

Note the percentage change from the prior year's value; if your home increased more than comparable properties in your neighborhood, that is a signal worth investigating.

Step 2: Gather Comparable Sales Evidence

The strongest appeals are built on comparable sales data. Identify three to five homes similar to yours in size, age, condition, and location that sold near the assessment date for less than your listed actual value. Focus on sales within a half-mile radius and, when possible, within the same school district.

Document any condition issues — deferred maintenance, foundation problems, outdated systems — with photos and contractor estimates.

For a detailed walkthrough, use our guide to common property tax appeal mistakes.

Step 3: Request an Informal Review

Before filing a formal appeal, most Colorado counties allow you to request an informal review with the assessor's office. Many assessors will adjust values during this stage if you present clear comparable sales or documentation of condition issues.

The county will respond with a Notice of Determination (NOD). If resolved informally, no formal filing is needed, and no other deadline concerns.

Note that per C.R.S. 39-5-122, in revaluation years, the assessor's NOD deadline is the last regular working day in August (Monday, Aug. 31, 2026). However, in practice, most assessors send by August 15.

Step 4: File With the County Board of Equalization (CBOE)

If the informal review does not resolve your case, file your formal appeal by June 1 or within 30 days of receiving your NOV, whichever is later.

The County Board of Equalization (CBOE) is the local body that hears formal property tax appeals in Colorado.

Hearings are typically 15-30 minutes and can often be conducted by phone or video. Bring printed copies of your evidence for board members.

Step 5: Escalate if Necessary

If the CBOE ruling is unfavorable, you can appeal to the Colorado Board of Assessment Appeals (BAA), a state-level body that conducts a fresh, independent review of your evidence, within 30 days of the CBOE decision.

District court is also available for a full judicial review. Per C.R.S. § 39-8-108, the BAA must schedule your hearing within 90 days of receiving the appeal.

Ownwell manages the entire Colorado property tax appeal process on your behalf. When you submit your address, Ownwell's local tax experts and proprietary technology analyze your property using real-time sales data and comparable market analysis to determine whether your assessment is too high.

If an appeal is warranted, Ownwell handles every step: building the evidence package, filing with your county assessor, representing you at the CBOE, and confirming the final outcome.

How Ownwell's fee works (Colorado)

• Contingency-based: 35% of your first-year tax savings
• Zero upfront cost. If your appeal does not result in a reduction, you pay nothing.
• 88% success rate and $774 average annual savings nationwide
• 4.7 rating across 3,000+ Google reviews

Because Colorado's biennial cycle locks in your value for two years, a successful appeal compounds over time. A 10% reduction on a $550,000 home saves roughly $275-$310 per year, or $550-$620 over the full two-year assessment period.

Sources:
Colorado Division of Property Taxation
Colorado Revised Statutes Title 39
Tax Foundation 2026 Property Tax Report
Ownwell Colorado Property Tax Trends
Rates and deadlines as of the 2026 tax year. Information accurate as of May 2026.