Fraser River Valley Housing Partnership Property Tax Calculator

What might a potential property tax increase mean for you?

You can either calculate it for yourself using the steps below or use our calculator by inputting the actual value of your residential property. Also find information below about the senior property tax exemption.

Market value of your residential property
This is for estimation purposes only, so use your best judgment. For a more accurate estimate, look up the most recent valuation on your property from the Grand County Assessor. You can do that by clicking here. But please note that, based on current market conditions, it's possible that your property is worth more today than the date of your last assessment. 
$
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 6.765%)
$
Proposed mills and your annual cost
(the mills considered for an increase on the November 2022 ballot to fund the partnership)
mills
$
Estimate to address the housing shortage
$
per month
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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
    • 6.765% for residential property
    • 27.9% for commercial 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

  • Actual Value x Assessment Rate = Assessed (aka Taxable) Value
  • Assessed Value x Mill Levy = Annual Property Taxes

Example using a $500,000 residence and 10 mills (1 mill = $1 per $1,000 of property value)

  • $500,000 X 6.765% = $33,825 assessed (aka taxable) value
  • $33,825 X 0.010 = $338.25 annual taxes ($28.19 monthly*)

Senior Property Tax Exemption

Seniors in Colorado that are 65 or older and have owned or lived in their home for more than ten consecutive years may apply with the county for an exemption, provided they meet the requirements. More information and forms to apply are available here.

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.

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