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.
Colorado's residential assessment rate has fluctuated due to legislative changes after the Gallagher Amendment was repealed in 2020. We cover property Taxes in Colorado: Rates, Exemptions, and How They Work (2026) from start to finish here.
If you qualify for multiple exemptions, apply for all of them. In most jurisdictions, exemptions stack. A senior homeowner who is also a veteran can often claim both exemptions simultaneously, doubling the savings.
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Colorado's residential assessment rate has fluctuated due to legislative changes after the Gallagher Amendment was repealed in 2020.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.
Understanding this topic fully means looking at both the big picture and the specific details that apply to your situation. Every property is different, and the strategies that save the most money are the ones tailored to your particular home, location, and circumstances.
Start by gathering the basic facts about your property: its assessed value, the tax rate in your jurisdiction, and any exemptions currently applied. Then compare your situation to what is available. You may find opportunities for savings that you did not know existed.
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.
Understanding this topic fully means looking at both the big picture and the specific details that apply to your situation. Every property is different, and the strategies that save the most money are the ones tailored to your particular home, location, and circumstances.
Start by gathering the basic facts about your property: its assessed value, the tax rate in your jurisdiction, and any exemptions currently applied. Then compare your situation to what is available. You may find opportunities for savings that you did not know existed.
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.
Understanding this topic fully means looking at both the big picture and the specific details that apply to your situation. Every property is different, and the strategies that save the most money are the ones tailored to your particular home, location, and circumstances.
Start by gathering the basic facts about your property: its assessed value, the tax rate in your jurisdiction, and any exemptions currently applied. Then compare your situation to what is available. You may find opportunities for savings that you did not know existed.
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 |
Do not assume you are automatically enrolled. Most exemptions require an application, and many homeowners lose years of savings simply because they never filed. Contact your county assessor's office or check their website for the application form. Bring proof of eligibility (age verification, disability documentation, veteran status, etc.) and file well before the deadline.
If you qualify for multiple exemptions, apply for all of them. In most jurisdictions, exemptions stack. A senior homeowner who is also a veteran can often claim both exemptions simultaneously, doubling the savings.
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.
The appeal process is designed to be accessible to regular homeowners, not just attorneys and tax professionals. You do not need to hire anyone to file. The key is preparation. Gather your evidence before the hearing, organize it clearly, and practice presenting your case in under 10 minutes. Lead with comparable sales, then cover any property record errors, and finish with photos or documentation of condition issues.
Keep your tone professional and factual. Review boards respond to evidence, not complaints. If you walk in with 3 strong comparable sales and a calm, organized presentation, you are already ahead of most appellants.
Your Next Steps
Here is exactly what to do this week to start lowering your Colorado property taxes:
- Pull your property record card. Contact your county assessor's office or check their website. Compare every detail to your actual property. Flag anything that looks wrong.
- Check recent sales in your neighborhood. Look up 3 to 5 homes similar to yours that sold in the past 12 months. If they sold for less than your assessed value, you have a case.
- File for any exemptions you have not claimed. If you are a senior, veteran, or disabled homeowner in Colorado, there may be exemptions saving you hundreds or thousands per year that you have not applied for yet.
- Mark your appeal deadline. Find the date on your most recent assessment notice and set a reminder for two weeks before. Do not let the deadline pass without acting.
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Frequently Asked Questions
How are property taxes calculated in Colorado?
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).
What is the current residential assessment rate in Colorado?
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.
When do Colorado counties reassess property values?
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.
Why does TABOR limit property tax revenue in Colorado?
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.
Can I appeal my Colorado property tax assessment?
Check your Colorado assessment with our free property tax analyzer, especially in reassessment years when values can jump significantly.