How Property Taxes Work
Colorado property taxes are calculated using the assessed value multiplied by the mill levy. Summit County rates are competitive compared to other resort communities.
Assessment Process
- Properties reassessed every two years
- Residential assessment rate: 6.765% of actual value
- Actual value based on comparable sales
- Assessment notices mailed in May
Mill Levy Components
- County general fund
- School district
- Fire protection district
- Water and sanitation
- Metropolitan districts
Tax Payment Schedule
- Full payment due April 30
- Or split: First half February 28, Second half June 15
- Late payments subject to interest
Tax Exemptions
Available exemptions include:
- Senior property tax exemption (65+, 10-year resident)
- Disabled veteran exemption
- Agricultural land exemption
Appealing Your Assessment
- File protest by June 1
- Provide comparable sales data
- Attend hearing if needed
- Further appeal options available