Colorado homeowners have just received their latest Assessed Value report by their local county assessor. This reported is based on the difference in property values from June 30th 2018 to June 30th, 2020. Boulder County homeowners are seeing the biggest value increases at 11%, Jefferson County at 10%, Adams and Douglas Counties at 8%, Arapahoe, Broomfield, and Denver Counties at 7%, and Elbert County at 6%. I am really surprised that these gains are this small. Two years ago median residential home values had increased by 17.2% along the Front Range. Since voters passed Amendment B last fall homeowner’s property taxes will increase by the percentage increase in their home value plus any additional mill levies that were voter approved for schools, police, fire, etc. Before Amendment B the Tax Assessment Rate on residential properties dropped every 2 years which limited how fast property taxes increased. Now, the Tax Assessment Rate is fixed at 7.15%.
