The Colorado Homeowner's Guide to Property Tax Reduction and Appeals

Introduction: Understanding Property Tax in the Centennial State

For homeowners in Colorado, understanding your property tax assessment is essential for financial planning. Colorado's system differs significantly from many states, relying on a biennial assessment cycle that can lead to major changes in your annual property tax bill. This guide helps Colorado property owners navigate the system and execute a timely property tax appeal.

Section 1: Colorado's Unique Assessment Cycle

Colorado reassesses property values every two years (odd-numbered years). This means your property taxes can change significantly every other year based on market conditions.

1.1 How Assessments Work

• Biennial Reassessment: Properties are revalued every two years using sales data from a specific period.
• Assessment Rate: Residential properties are assessed at 6.765% of actual value (subject to change).
• Notice of Valuation: Mailed to property owners in May of reassessment years.

Section 2: The Appeal Process in Colorado

Colorado provides a structured appeal process with specific deadlines that must be followed.

2.1 Appeal Timeline

• Informal Review: Contact your county assessor within 2 days of receiving your Notice of Valuation.
• Formal Appeal: File with the County Board of Equalization by June 1.
• State Level: Appeal to the State Board of Assessment Appeals if unsatisfied.

Section 3: Colorado Tax Relief Programs

• Senior Homestead Exemption: 50% exemption on the first $200,000 of actual value for qualifying seniors.
• Disabled Veteran Exemption: Similar benefits for qualifying disabled veterans.
• Property Tax Deferral: Available for seniors and military personnel.