What would it potentially cost if the District were to increase property taxes through a mill levy override?

You can either calculate it for yourself using the steps at the bottom of the page, or use our calculator below by inputting the actual value of your residential property in the first field:

Market value of your residential property
$
Calculate
Your assessed value
(the portion of your property value you pay taxes on; the residential rate is set by the state legislature each year and the current rate for 2024 is 6.7%)
$
Proposed mills and your annual cost
(the mill levy override potentially considered for the November 2024 ballot to fund programs and staff)
mills
$
Monthly estimate needed to fund programs and staff.
$
per month
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NOTE:

If you are 65 years of age or older and have owned your home for 10 years or more you may be eligible to have 50% of the first $200,000 in actual value exempted from property taxes. This has helped to provide financial relief to many older adults in our community. Please visit the Senior Citizen Property Tax Exemption page to learn more.

ABOUT THE TOOL

This educational tool is powered by Public Alignment Communication, who works with local governments to help their citizens engage with potential capital projects, budget questions and fiscal scenarios. To make it easier for citizens to weigh their options we created a calculator where all you need to know is the actual value of your residential property to determine how much more you would pay each year for a potential property tax increase. 

Keep in mind that most people pay their annual property tax bill through their monthly mortgage (escrow) payments.

How Property Taxes Are Calculated

In Colorado, property taxes are calculated using three basic factors:

  1. The actual value of the property
  2. The assessment rate, which is set by the State for residential property and for non-residential property
    • 6.7% for residential property after a $55,000 exemption
  3. The local mill levy, which is determined by totalling up each local government that levies a property tax where the property is located, such as counties, schools, and special districts like recreation, libraries, water and others

Calculate your Property Taxes Manually

  • (Actual Value - Exemption) x Assessment Rate = Assessed (aka Taxable) Value
  • Assessed Value x Mill Levy = Annual Property Taxes

Example using a $300,000 residence and 1 mill (1 mill = $1 per $1,000 of property value)

  • ($300,000 - $55,000) x 6.7% = $16,415 Assessed (aka Taxable) Value
  • $16,415 x 0.001 = $16.42 Annual Taxes
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