Boulder Property Taxes Explained - You Have Until June 8 to Appeal.

The video above is long and unedited but gives a reasonably thorough overview of Boulder’s property taxes and how to appeal, which you must do by June 8. If you are questioning the value the Assessor assigned to your home, please reach out, and I will help you appeal. I am also happy to send you details about your particular home. For example, what is the mill levy in your location, and why is it different from your friends’ mill levies?
 
Below are the key takeaways from the above video. Please reach out if you want links to any of this information:
 
  1. Homes are assessed every ODD year. The 2023 assessment looks at the period between June 30, 2020, and June 30, 2022.
  2. In the City of Boulder, the 24-month median value increase for a single-family home was 35% - for many of you, it was higher than that.
  3. Property taxes are paid in arrears, which means you will get the bill for 2023 by the end of January 2024.
  4. There is some good news: A) Colorado still has some of the lowest property taxes in the country. In fact, only Hawaii and Alabama have lower taxes than CO does; B) In 2022, our state legislature anticipated this increase and passed SB22-238, which reduced the assessment rate to 6.765%, the lowest it has been in many years. The bill also allows homeowners to automatically deduct $15,000 from the value assigned by the assessor for 2023 and 2024.
  5. The formula to calculate your property taxes is (Value assigned by Assessor - Value Adjustment) x Assessment Rate = Assessed Value. Assessed Value x Mill Levy = Taxes Due.) If you have a home that was assigned a value of $1,000,000 in 2023, here’s what that means for you: ($1,000,000 - $15,000) x 6.765% (or 0.06765) = $66,635.25. $66,635.25 x 93 Mills (or 0.093) = $6,197.1
  6. The final Mill Levy has yet to be set, but for many people in Boulder, it will be around 93 mills. There are 135 tax districts, so that number varies location by location, but Boulder residents can count on 51 mills for BVSD, 24 mills for the County, 11.7 mills for the City, 3.5 mills for the Library District, and another couple of mills for water services.

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With almost two decades of housing and real estate experience in professional, political, and academic settings, Jill brings a level of knowledge and expertise that is rare in the industry. She is committed to providing exceptional customer service and delivering results that exceed clients' expectations.