How are my property taxes calculated?

Property taxes are calculated by multiplying the assessed value of the property by the mill levy for the taxing area. The assessed value is a percentage of the actual value of your property. (For more information concerning valuation for taxation, refer to the Assessor's page.) The mill levy for the taxing area is the combination of the separate mill levies for each taxing authority within whose established boundaries your property lies. 

Example:

Assessed Value...........31,550 

Mill Levy Total.......... x 0.099512 (usually expressed as 99.512) 

Total Property Tax...... $3,139.60

Show All Answers

1. When are property taxes due?
2. When should I receive my property tax notice?
3. Where do I pay my property taxes?
4. What should I do if don't receive a property tax notice?
5. My mortgage company is supposed to pay my property taxes. Why did I get the tax notice and what should I do with it?
6. Will Broomfield send second half notices?
7. What do my property taxes pay for?
8. I can't afford to pay my property taxes on time. What should I do?
9. How are my property taxes calculated?
10. Who sets the value for my property?
11. What is a mill levy and how is it figured?
12. What can I do to lower my property taxes?
13. Are property taxes paid in arrears?