RESIDENTIAL PROPERTY TAX CALCULATOR

How much would a new property tax increase potentially cost?

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 is 6.765%)
$
Proposed mills and your annual cost
(the increased mill levy being considered for the November 2023 ballot to fund TMC's immediate shortfalls and ensure financial sustainability)
mills
$
TOTAL NEW ADDITIONAL COST (does not include the current, established mill levy)
mills
$
annually
Rough estimate to stabilize the budget and position TMC to broaden its mission of providing high- quality care to the community
$
per month
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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
    • 6.765% for residential property
  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 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 X 6.765% = $20,295 assessed (aka taxable) value
  • $20,295 X 0.001 = $20.30 annual taxes
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