Property Tax Calculation
Property taxes are calculated by applying the Mill Levy from each taxing authority in which you live to the Taxable Assessed Value of your home. For most districts within a municipality, Larimer County receives approximately 25% of your total property tax payment. If you live in a metropolitan district the percentage is less.
For a typical home within a municipality and within a metropolitan district, tax would be collected as follows:
| Item | Amount | |
|---|---|---|
| Property Actual Value on your Notice of Valuation from the Larimer County Assessor | $600,000 | |
| Less Residential Value Exemption (set by the State of Colorado) (Note - if you are eligible for other property tax exemptions, subtract that value as well) | -$55,000 | |
| Net Actual Value of your Property | $545,000 | |
| X Residential Assessment Rate (set by the State of Colorado) | X 6.7% | |
| = Taxable Assessed Value | $36,515 | |
|
Mill Levies and Taxes Owed - Set by Taxing Authority in which you live. Taxes equal the Mill Levy Rate X the Taxable Assessed Value divided by 1,000 School District Metropolitan District (if you live in one) Larimer County* Municipality (if you live in one) Special Districts (Library, Fire, Water, Sanitation, etc. depending on where you live) |
Mill Levy
55.865 50.000 21.745* 9.797 8.320 |
Tax
$2,211 $1,979 $861 $388 $329 |
|
TOTAL (Taxable Assessed Value X Mill Levy Rates / 1,000) |
145.727 X $36,515 / 1,000 = |
$5,768 |
* = The Larimer County Board of County Commissioners has approved a Mill Levy Credit for taxes paid in 2024. This credit automatically reduces the County's Mill Levy found on your tax bill, which has also reduced the amount of property tax owed to Larimer County. The Temporary Mill Levy Credit has reduced the total amount of property tax revenue that Larimer County will receive in 2024 by $5.5 million from what it would have otherwise collected without the credit.
