Jefferson County EDC

Property Tax

All real and business personal property, except that which is specifically exempt by law, is subject to property taxation by local districts. A general reassessment of all property in Colorado occurs every two years. For 2001 and 2001 assessments, a property’s market value is determined from sales and other data during the period between July 1, 1998, and June 30, 2000. The assessment rate for commercial and industrial property is set at 29 percent of market value, while the residential rate is adjusted during years of general reappraisal. The residential assessment rate is 9.15 percent for 2001 and 2002 assessments. The average mill levy in the Jefferson County is 99 mills.

State Tax Refund for Businesses
During the years of state budget surplus, taxpayers who paid $500 or less in business personal property tax will receive a refund of the full amount of personal property tax paid. Effective July 1, 2001, taxpayers who paid more than $500 will receive $500 plus 16 percent of the amount paid over $500.

Determination of Tax Rates
Where you live within a county determines the taxing entities to which you will pay your taxes.

Residential Example
Mrs. Jones’ home is provided services by four taxing entities. The market value of her home is $150,000. Her total tax bill is determined to be $1385.03.
County tax rate:	2.4686 percent or 24.686 mills
City tax rate:	.8750 percent or 8.75 mills
School district tax rate:	5.1761 percent or 51.761 mills
Water and sanitation tax rate:	.0960 percent or 9.6 mills
Total tax rate:	9.480 percent or 94.80 mills
$150,000 (Actual Value) x 9.15 percent (Assessment Percentage) x .09480 (Tax Rate) = $1,301.13 (tax bill)

Business Example

XYZ manufacturing owns a $10 million building including land.

$10,000,000 (Actual Value) x 29 percent (Assessment Percentage)
x .09480 (Tax Rate) = $274,920

Corporate Personal Property Tax Rebates
Under SB182, Colorado allows municipalities to rebate the corporate personal property tax at 50 percent for four years. Companies interested in applying for this incentive must contact Jeffco EDC to request an application.