Your home's assessed value is multiplied by the mill levy to determine your property tax bill. The mill levy is set in December by the various taxing jurisdictions, such as the Denver school board, city council, and any special districts in which your home is located (water districts, improvement districts, etc). In December, each taxing authority sets their new mill levy, then all these separate levies are added together into one total mill levy, which appears on your annual property tax bill. You may want to attend the public meetings when these taxing authorities are considering a new mill levy each year.

The current mill levy in Denver is 66.897. Using this levy, we can give you an EXAMPLE of how your property tax bill can be ESTIMATED:

For residential properties, your actual value (shown on your Notice of Valuation) is multiplied by the residential assessment rate in order to arrive at your assessed value (the residential assessment rate is set by the state, and the current rate is 7.96%, the assessment rate for all other properties is 29%). Your assessed value is then multiplied by the mill levy to arrive at your property tax bill.

Thus, if the actual value of a home is $150,000, this figure would be multiplied by the assessment rate of 7.96% for an assessed value of $11,940. This assessed value would then be multiplied by the mill levy of 66.897 (.066897) for a property tax bill of $798.75.