Trying to make sense of your Lowry property tax bill? You are not alone. Between assessment rates, mill levies, and annual reassessments, it can feel confusing to plan your budget. This guide breaks down how Colorado calculates property taxes, what mill levies include in Denver and Lowry, simple example bills, and practical steps to stay ahead of changes. Let’s dive in.
Colorado property tax basics
Two-step calculation
Colorado uses a simple two-step process:
- Convert market value to assessed value.
- Apply your total mill levy to that assessed value.
In formula form:
- Assessed value = Market value × Residential assessment rate
- Annual tax = (Assessed value ÷ 1,000) × Total mills
- One mill equals 1 dollar of tax per 1,000 dollars of assessed value.
Key terms to know
- Market (actual) value is what the assessor estimates your home would sell for on the valuation date.
- The residential assessment rate is a state-set percentage used to calculate assessed value from market value.
- The total mill levy is the sum of all applicable levies for your parcel. This includes city and county, school district, and any special or regional districts.
Mill levies in Denver and Lowry
Who sets your mills
Your Lowry bill typically combines levies from:
- Denver City and County services.
- Denver Public Schools (School District No. 1).
- Regional bodies that levy property tax in Denver, such as RTD if applicable.
- Special districts and voter-approved bonds. Some Lowry parcels include specific special district levies tied to redevelopment or infrastructure.
Why mills vary by parcel
The total mill levy on your bill is the sum of every levy that applies to your specific property. Two homes on the same block can see different totals if one is inside a special district and the other is not. Mill levies appear in mills, for example 85 mills equals 0.085 when you convert mills to a decimal rate on assessed value.
Sample Lowry tax math
The following are examples to show the math. Always confirm the current residential assessment rate and your property’s actual total mill levy before budgeting.
Formulas at a glance
- Assessed value = Market value × Assessment rate
- Annual tax = (Assessed value ÷ 1,000) × Total mills
- Effective tax rate on market value = Assessment rate × (mills ÷ 1,000)
For illustration, the examples below use a 7.15% assessment rate and three possible total mill scenarios: 70, 85, and 100 mills.
Example: $400,000 home
- Assessed value: 400,000 × 0.0715 = 28,600
- Tax at 70 mills: (28,600 ÷ 1,000) × 70 = 2,002
- Tax at 85 mills: (28,600 ÷ 1,000) × 85 = 2,431
- Tax at 100 mills: (28,600 ÷ 1,000) × 100 = 2,860
Example: $700,000 home
- Assessed value: 700,000 × 0.0715 = 50,050
- Tax at 70 mills: (50,050 ÷ 1,000) × 70 ≈ 3,504
- Tax at 85 mills: (50,050 ÷ 1,000) × 85 ≈ 4,254
- Tax at 100 mills: (50,050 ÷ 1,000) × 100 = 5,005
Example: $1,000,000 home
- Assessed value: 1,000,000 × 0.0715 = 71,500
- Tax at 70 mills: (71,500 ÷ 1,000) × 70 = 5,005
- Tax at 85 mills: (71,500 ÷ 1,000) × 85 ≈ 6,078
- Tax at 100 mills: (71,500 ÷ 1,000) × 100 = 7,150
In these examples, the effective annual property tax at 85 mills equals about 0.61% of market value. That is 0.0715 × 0.085 = 0.00608.
Reassessments and yearly swings
Two moving parts drive changes year to year: your assessed value and your total mill levy. County assessors regularly revalue properties to reflect market conditions. If Lowry prices rise, assessed values often rise too, which can raise your bill even if mills stay the same.
Local taxing entities set budgets and then compute mill levies. If the overall taxable base grows, some jurisdictions reduce mills to limit revenue growth. If voter-approved bonds or higher budgets are adopted, mills can increase. Your bill can rise faster than values, slower than values, or even fall depending on how these two pieces interact.
Plan and budget smartly
Before you buy
- Pull the most recent property tax bill or the Denver assessor’s parcel page to see the current assessed value and total mills for that specific property.
- If you only have a purchase price, estimate taxes using: purchase price × assessment rate, then apply an estimated mill total based on nearby comparable properties. This gives a working budget number.
After you buy
- Watch for the assessor’s Notice of Value if your valuation changes. Review it quickly and note the appeal deadline on the notice.
- Scan your tax bill for each levy component, including city and county, school district, and any special districts or debt service. Special districts often explain differences among nearby homes.
- For questions about payments or schedules, contact the county treasurer. For valuation questions or appeals, contact the assessor.
If taxes jump unexpectedly
- Confirm whether the increase came from an assessed value change, a mill levy change, or a new special district.
- Consider an appeal if the assessor’s value appears unsupported by recent comparable sales or if there are errors in the property record.
Appeals, exemptions, credits
If you believe your valuation is too high, you can request an informal review, then file a formal appeal with the county appeal board or the State Board of Assessment Appeals if needed. Evidence commonly includes recent comparable sales, a third-party appraisal, or documentation showing an error in the property description.
Colorado offers targeted relief programs. These may include exemptions or deferrals for eligible owners such as disabled veterans or certain income-qualified or senior households. Homestead-style blanket exemptions common in other states are not broadly available in Colorado. Always verify current eligibility and timelines with official Denver and Colorado sources.
Local guidance you can trust
Understanding mill levies and reassessments helps you plan your monthly and annual housing costs with confidence. Whether you are comparing homes in Lowry or reviewing a new Notice of Value, a clear estimate today can prevent surprises tomorrow. If you want help pulling a property’s latest levy totals, estimating your tax range, or planning for an appeal timeline, connect with a local expert who knows Denver’s process.
If you are weighing a move or budgeting for a Lowry purchase, reach out to Molly Weiss for personalized guidance and neighborhood-level insight.
FAQs
How are Lowry property taxes calculated?
- Colorado converts market value to assessed value using a state-set assessment rate, then applies your parcel’s total mill levy to that assessed value to compute the annual tax.
What is a mill levy in Denver?
- A mill is 1 dollar per 1,000 dollars of assessed value. Your total mill levy is the sum of all applicable levies for your property, such as city and county, schools, regional, and special districts.
Do all Lowry homes pay the same mills?
- No. Parcels can differ due to special districts or voter-approved debt levies, so two nearby homes may show different total mill levies on their bills.
How often are properties reassessed in Denver?
- County assessors revalue properties on a regular cycle, and annual valuation is common in Colorado. When local market values rise, assessed values often increase too.
Why did my tax bill jump this year?
- Bills can rise due to higher assessed value, increased mill levies from local budgets or voter-approved bonds, or a new special district added to your parcel.
Can I appeal my assessed value in Denver?
- Yes. You can request an informal review, then pursue a formal appeal if needed. Strong evidence includes recent comparable sales, an appraisal, or proof of a property data error.
Are there property tax exemptions in Colorado?
- Colorado offers targeted programs, such as relief for eligible seniors or disabled veterans, and some deferral options. Confirm qualifications and deadlines with official county or state sources.
