Carbon Valley Parks & Recreation District

RESIDENTIAL PROPERTY TAX CALCULATOR

How much would a 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
$
Your assessed value
(the portion of your property value you pay taxes on; the residential rate is set by the state legislature and is currently 7.15%)
$
Proposed mills and your annual cost
(the mills considered for an increase on the November 2021 ballot to pay for capital construction and operations of the new facilities)
mills
$
TOTAL NEW ANNUAL COST (proposed)
mills
$
annually
Rough estimate for a New Outdoor Water Park, 32,000 Sq. Ft. Rec Center, and a New Senior Fitness Room
$
per month
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ABOUT THE TOOL

This educational tool is powered by Turn Corps, 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
    • 7.15% for residential property
    • 29% for non-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 7.15% = $21,450 assessed (aka taxable) value
  • $21,450 X 0.001 = $21.45 annual taxes
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