What is an assessment rate?
The assessment rate is the percentage paid by a taxpayer based on property classification. The residential assessment rate is subject to change by the Colorado Legislature each odd numbered year. It is currently 7.96% for residential property, with all other property classifications being 29%. By Constitutional mandate, the change in percentage maintains the present balance of the tax burden between residential and other taxpayers.

Show All Answers

1. How are property taxes determined?
2. What is a mill levy?
3. What is an assessment rate?
4. When will I receive a Notice of Valuation and what information does it contain?
5. How is the actual value determined?
6. What are the appraisal methods?
7. What is time adjustment?
8. What is the land distribution in Grand County?