2023 Increased Values

Under Colorado law, county assessor offices throughout the State conduct a complete revaluation of all properties in their county every two years. The previous valuations were based on a June 30, 2020, level of value. These valuations used market sales data from July 1, 2018, through June 30, 2020. The new 2023 valuations are based on a June 30, 2022, level of value and were established using market sales data from July 1, 2020, through June 30, 2022. These new valuations will be used for tax years 2023 and 2024 (payable in 2024 and 2025 respectively). Any sales transactions occurring after June 30, 2022, cannot be used or considered until the next reappraisal in 2025. The Colorado legislature sets the appraisal date, the market sales data collection period, and the annual calendar for the assessment process. 

Property owners in most of Colorado can expect valuation increases when they receive their 2023 Notice of Valuation on or about May 1, including Clear Creek County.  Over the past two years, a strong demand for real estate have contributed to the valuation increases. 

In addition to lowering assessment rates, the Colorado legislature has also provided an actual value exemption of $15,000 per residential property and $30,000 per improved commercial property for tax year 2023. These actual valuation exemptions will not be reflected in the Notices of Valuation, but will be applied prior to the 2023 tax bills being sent. 

Property owners have recourse through exemptions for those who qualify, and protests. The protest deadline is June 8 this year. There are exemptions for seniors, disabled veterans and gold star spouses. Veterans and gold star spouses must apply through the Division of Veterans Affairs, while seniors may apply through the Assessor's Office. Seniors must be 65 years old as of January 1 and have owned/lived in their house as their primary residence for 10 years or more. The exemption exempts half of the first $200,000 of property's actual value from taxes.

Tax calculations also take mill levies into account. Mill levies are established by the county commissioners, school districts, and the boards of the various taxing entities such as municipalities, fire, recreation, library ,etc. 

Our website has more information regarding protests and allows people to search and view details and characteristics of individual properties, as well as research comparable sales.  

Click here for more information.

For questions about your property value, please call (303) 679-2322, or email dgee@clearcreekcounty.us.