How to Lower Your Property Taxes in Colorado

Property taxes are one of the biggest ongoing expenses of homeownership—and in Colorado, many homeowners don’t realize they may be paying more than necessary.

As a realtor with over 29 years of experience, I’ve helped many clients better understand how property taxes work and where there may be opportunities to reduce them. While you can’t avoid property taxes altogether, there are ways to potentially lower your bill.

1. Understand How Property Taxes Work in Colorado

In Colorado, property taxes are based on:

• Your home’s assessed value (determined by your county assessor)
• The assessment rate (set by the state)
• Your local mill levy (set by local governments, schools, etc.)

Residential properties are reassessed every two years (odd-numbered years), based on market data from the prior period.

That means your tax bill may not always reflect what’s happening in the market right now.

2. Review Your County Assessment Notice Carefully

When you receive your Notice of Valuation (NOV), don’t ignore it.

Check for:

• Incorrect square footage
• Wrong number of bedrooms/bathrooms
• Features that don’t exist
• Condition issues that weren’t considered

If anything is off, it could impact your tax bill.

3. File an Appeal (Protest) if Needed

In Colorado, you have a short window to protest your property value—typically from May 1 through early June (exact dates vary slightly by county).

To appeal, you’ll need:

• Comparable sales from the appropriate timeframe
• Evidence your home is overvalued
• Supporting documentation (photos, condition issues, etc.)

This is where having a knowledgeable realtor can really help—I regularly pull comps for clients during protest season.

4. Take Advantage of the Colorado Homestead Exemption

Colorado offers a Homestead Exemption for qualifying homeowners:

• Must be 62 or older, or a surviving spouse
• Must have lived in the home as a primary residence for at least 10 years

This exemption can significantly reduce the taxable value of your home.

5. Check for Special Situations or Errors

You may be overpaying if:

• Your home is incorrectly classified (primary vs. rental)
• There are duplicate or outdated features listed
• Major damage or condition issues weren’t reflected in your valuation

Even small corrections can lead to savings over time.

6. Keep an Eye on Market Trends

Colorado’s real estate market can shift quickly. If home values soften but your assessed value doesn’t reflect that, it may be worth reviewing and appealing your valuation during the next cycle.

Final Thoughts

Property taxes in Colorado aren’t always set in stone. Taking the time to review your assessment—and knowing when and how to appeal—can potentially save you money year after year.

If you ever have questions about your home’s value or need help pulling comparable sales during protest season, I’m always happy to help.

Sue Monroe
RE/MAX Leaders
303-717-7349
www.suemonroe.com