Your Source for Summit County Real Estate
The residential tax rate for 2023 in Colorado is 6.76%. The commercial tax rate for 2023 in Colorado is 27.9%. A draft Colorado bill to increase property tax rates on short term rentals will convert those properties that are short term rentals from the residential rate to the commercial rate. That’s a huge tax increase! […]
The huge increase in property values during the pandemic was reflected in the huge increase in property valuations during the reassessment in 2023 which will result in huge property tax bills early next year. The previous repeal of the Gallagher Amendment by voters in 2020 has not helped this by removing the guard rails on […]
April showers bring May property tax valuations in Colorado. Notices of Valuation were sent out by the Summit County Assessor’s office on May 1st. I suggest you sit down before you open the mail and see your new property valuation and estimated 2023 property tax bill. Values have gone up substantially since the last valuation […]
A bill was recently introduced to Colorado legislatures that proposed a property tax hike for owners of residential properties that engaged in short term rentals. That proposed change has caused quite an uproar in Colorado resort markets like Summit County. Our Realtor organization fought back and as a result we have been told the tax […]
Recently introduced Senate Bill 20-109 could have huge impacts on your income if you short term rent a Colorado property. In fact, if passed, your Colorado property tax on rental property would likely double. Luckily, it’s still early in the process and we all have time to voice our opinions. What Properties are Impacted? In […]
The state of Colorado has some proposals in the works that would raise the property tax rates on short term rentals. We have been hearing rumors of this happening since late last year. It sounds like now they are working on something to make it a reality. We need both facts and opinions about the […]
One of the down sides of an improving real estate market is the increasing property taxes that go along with it. Because the property taxes we pay are based on the value of our property, an increase in your home’s value often means an increase in the costs you pay to keep that home. That increase can be […]
I checked the tax assessment for my Silverthorne home today on the county website and the assessor’s value has gone up about 18% in two years. My condo at Copper Mountain is up 17%. That means, if the mill levy is unchanged, that my property taxes will go up by the same percentage. Valuation notices will go out before May 1, and […]
101 Main St, #109, PO Box 4115 Frisco, CO 80443
