How does a value change affect my property taxes?

Your annual property taxes are determined by the following formula: Taxable Actual Value * Assessment Rate * Mill Levy = Tax amount.  The Assessment Rate for residential property in Colorado for 2023 is 6.95% or 6.8% for “multi-family” units. The Assessment rate for most other taxable property types is 29%. The Mill Levy, which is a rate, is a total of the mill levies set by taxing entities with jurisdiction over the property. The individual mill levy set by each taxing entity is listed on your tax bill and you may contact that taxing entity for more information about how the mill is set and/or how it is being used.

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1. Does my Notice of Value include the Senior or Veteran’s deduction?
2. What is my “Schedule” or “Account” number?
3. How is property valued for taxation purposes?
4. How do I know if my property has been correctly valued?
5. I haven’t made changes to my property, but my value has gone up. Why?
6. Why is my value higher than my neighbor’s if our properties are the same?
7. My single family home shows the value split into a land value and an imp value. How is the value of the land determined?
8. Where can I find sales used from the data collection period?
9. A similar property in my neighborhood just sold for lower than the value of my property. Why isn’t that sale considered to adjust my value lower?
10. How can I view the adjustments to the sales used to value my property?
11. What is “time trending” and how does it affect my property’s value?
12. What is the Calculation Ladder?
13. Why doesn’t my Notice of Value have comparable sales listed?
14. Why did I receive a Notice of Valuation?
15. Is a Notice of Valuation a bill?
16. How are my property taxes calculated?
17. How does a value change affect my property taxes?