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Property is classified by the Assessor according to its actual use on January 1 of each year. The property’s classification determines the rate at which the property will be assessed and how it will be valued. Residential property is valued using only the Market Approach to value. In this approach, the value of the subject property is based on an analysis of sales. For Tax Years 2025 and 2026, the comparable properties must have sold between January 1, 2023 and June 30, 2024. However, if insufficient data existed during that timeframe, data from each preceding six-month period (up to a period of five years preceding June 30, 2024) may be utilized.
Beginning in 2025, residential property will have two assessment rates. One assessment rate will be used to calculate local government assessed values and the other rate will calculate school district assessed values. The assessment rates are listed under the 2026 Assessment Rates chart in the document Understanding Property Taxes in Colorado. Below are some other key links to help understand and navigate your assessment.