Example of Denver County Property Tax Calculation
The calculation of Denver County Property Tax is based on the assessed value of a property. First, the county assessor determines the assessed value of the property which is based on factors such as the market value, size, location, and condition of the property. Once the assessed value is determined, the county applies the mill levy rate, which is set by various taxing authorities such as the city, county, school district, and special districts. The mill levy rate is expressed in mills, with one mill equal to one-tenth of a percent or 0.001. For example, if the assessed value of a property is $500,000 and the combined mill levy rate is 100 mills, the property tax would be $50,000 ($500,000 x 0.1 x 100). The property tax is payable in two installments, with the first installment due on February 28th and the second installment due on June 15th.
If you want appeal your property tax assessment - contact your local tax assessor.
Denver County Property Tax Rates
The Denver County Property Tax rates are as follows:
| Tax Type | Rate per $100 of Assessed Value |
|---|---|
| General Fund | $0.23331 |
| Bond Redemption | $0.10111 |
| Denver Health | $0.04401 |
| Denver Public Schools | $0.22181 |
| Metropolitan Football Stadium District | $0.01430 |
| Urban Drainage and Flood Control District | $0.07327 |
| Scientific and Cultural Facilities District | $0.01557 |
It is important to note that the rates can vary based on specific properties and their location within Denver County. It is recommended to consult with a tax professional for accurate and personalized information.
Who sets property tax rates in Denver County ?
Who and when sets property tax rates in Denver County?
In Denver County, the property tax rates are set by the Board of County Commissioners. They typically set the rates annually in December during the budgeting process for the following year. Property taxes are based on the assessed value of the property and are used to fund local government services such as schools, public safety, and infrastructure maintenance. Homeowners in Denver County can expect to receive their annual property tax bill in January, with payments due in April and June. It is important for property owners to understand their tax obligations and to seek the advice of a tax professional if they have any questions or concerns.
Homestead exemptions in Denver County ?
The following table includes all county-specific Homestead exemptions and deductions in Denver County, Colorado:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Senior Property Tax Exemption | Age 65 or older, or a surviving spouse aged 58 or older who was the spouse of a senior who previously qualified | Up to $200,000 of actual value of the primary residence | Must have lived in the property for at least 10 consecutive years |
| Disabled Veteran's Exemption | Veteran with a 100% permanent and total service-connected disability, or a surviving spouse of such a veteran | Full exemption of the actual value of the primary residence | Must have lived in the property for at least one year |
| Surviving Spouse of a Service Member Killed in Action Exemption | Surviving spouse of a service member killed in action on or after 9/11 | Full exemption of the actual value of the primary residence | Must have lived in the property for at least one year |
| Charitable Exemption | Nonprofit organization that owns property | Full exemption of the actual value of the property | Property must be used exclusively for charitable purposes |
It is important to note that eligibility requirements and amounts may vary depending on circumstances. It is recommended to consult with a tax professional for specific information on Homestead exemptions and deductions in Denver County, Colorado.
When is Denver County Property Tax due ?
According to the Denver County Assessor’s Office, property tax payments are typically due on April 30th each year. If the due date falls on a weekend or holiday, the deadline is extended to the next business day. Property owners are responsible for ensuring that their tax payments are submitted on time to avoid penalties and interest charges.
There are several payment methods available for property taxes in Denver County. These include:
| Payment Method | Details |
|---|---|
| Online | Payments can be made through the Denver County Treasurer’s website using a credit or debit card, or by e-check. A convenience fee applies to all online payments. |
| Payments can be mailed to the Denver County Treasurer’s Office using a check or money order. The mailing address is provided on the tax bill. | |
| In Person | Payments can be made in person at the Denver County Treasurer’s Office using cash, check, or money order. The office is located at 201 W. Colfax Ave., Dept. 101, Denver, CO 80202. |
It is important to note that property tax payments are based on the assessed value of the property, which is determined by the Denver County Assessor’s Office. Property owners who disagree with the assessed value of their property may have the right to appeal the assessment.
In summary, Denver County property taxes are typically due on April 30th and can be paid online, by mail, or in person at the Treasurer’s Office. Property owners should ensure that their payments are submitted on time to avoid penalties and interest charges.
If you have more questions - contact your local tax collector.
How is Denver County Property Tax penalty calculated ?
Denver County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes by the due date, the Denver County Treasurer's Office imposes a penalty. The penalty is calculated based on a percentage of the total amount owed and the number of days past the due date.
Here is an example:
Let's say the property owner owes $10,000 in property taxes for the year. The due date is January 31st, and they fail to pay on time. On February 1st, a penalty of 1% is added to the total amount owed, which is $100. If the property owner still hasn't paid by March 1st, an additional 1% penalty is added to the total amount owed, which is now $10,200.
The penalty continues to increase at a rate of 1% per month until the total penalty reaches 10%. In this case, if the property owner doesn't pay until July 1st, the total penalty would be $1,000, bringing the total amount owed to $11,000.
The Denver County Treasurer's Office provides a penalty calculator on their website, making it easy for property owners to estimate the penalty amount they may owe if they don't pay their taxes on time.
In summary, the Denver County Property Tax Penalty is calculated based on a percentage of the total amount owed and the number of days past the due date. Property owners who fail to pay their taxes on time can use the penalty calculator to estimate the amount they may owe.
We recommend contacting the Denver County Tax Office or a local tax professional for the most up-to-date and accurate information.