Property Taxes in Colorado: Rates, Exemptions, and How They Work (2026)
TL;DR
Colorado property taxes are shaped by TABOR (Taxpayer's Bill of Rights) and the Gallagher Amendment's legacy. The residential assessment rate has been significantly reduced in recent years to around 6.7% (varies by year and legislative adjustments). Non-residential property is assessed at 29%. Counties reassess every odd year. TABOR limits revenue growth to inflation plus population growth without voter approval. The average effective rate is about 0.51%. Appeal through the county Board of Equalization by June 1 of reassessment years.
Residential Assessment Rate
Colorado's residential assessment rate has fluctuated due to legislative changes after the Gallagher Amendment was repealed in 2020. The rate was 6.765% for assessment year 2023, with subsequent adjustments. The actual rate for the current year is set by the legislature. Check with your county assessor for the current rate.
Non-residential property (commercial, industrial, agricultural land) is assessed at 29% of actual value.
Reassessment Cycle
Colorado county assessors revalue all property every odd-numbered year (2023, 2025, 2027). Notices of Valuation are mailed by May 1 of the reassessment year.
TABOR
The Taxpayer's Bill of Rights limits how much total revenue a taxing district can collect each year. Revenue cannot grow faster than inflation plus population growth without voter approval. Excess revenue must be refunded. This means that even if property values surge, the taxing district must either lower the mill rate or refund the excess.
Exemptions
| Exemption | Benefit | Who Qualifies |
|---|---|---|
| Senior/Disabled Homestead | 50% of first $200,000 of actual value exempt from school taxes | 65+ or disabled, owner-occupied 10+ years |
| Disabled Veterans | 50% of first $200,000 of actual value exempt | 100% permanent disability, owner-occupied |
Appeal Process
- Assessor appeal: File by June 1 of the reassessment year
- County Board of Equalization (CBOE): If assessor denies, appeal to CBOE by June 15
- State Board of Assessment Appeals (BAA): Appeal within 30 days of CBOE decision
Check your Colorado assessment with our free property tax analyzer, especially in reassessment years when values can jump significantly.
Frequently Asked Questions
What should I know about property taxes in colorado: rates, exemptions, and how they work (2026)?
Colorado property taxes are shaped by TABOR (Taxpayer's Bill of Rights) and the Gallagher Amendment's legacy. The residential assessment rate has been significantly reduced in recent years to around 6.7% (varies by year and legislative adjustments). Non-residential property is assessed at 29%.
What should I know about residential assessment rate?
Colorado's residential assessment rate has fluctuated due to legislative changes after the Gallagher Amendment was repealed in 2020. The rate was 6.765% for assessment year 2023, with subsequent adjustments. The actual rate for the current year is set by the legislature.
What should I know about reassessment cycle?
Colorado county assessors revalue all property every odd-numbered year (2023, 2025, 2027). Notices of Valuation are mailed by May 1 of the reassessment year.
What should I know about tabor?
The Taxpayer's Bill of Rights limits how much total revenue a taxing district can collect each year. Revenue cannot grow faster than inflation plus population growth without voter approval. Excess revenue must be refunded.
What is the process for appeal process?
Check your Colorado assessment with our free property tax analyzer, especially in reassessment years when values can jump significantly.