what are property taxes in colorado

[ElliotFitz]

In Colorado, property taxes are determined by multiplying the assessed value of a property by the local mill levy. While the state has one of the lowest effective property tax rates in the U.S. (around 0.50% in 2023), property values have been rising, which can still lead to higher tax bills. For 2025, residential properties are assessed at a slightly higher rate for local governments compared to the temporary discounts in 2024.