Rate Breakdown

Property taxes in Chaffee County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Chaffee County

Every year the Chaffee County Assessor’s Office determines the taxable value of each parcel of real property within the county. The process begins with a market‑value appraisal, which reflects the price a willing buyer would pay a willing seller under normal conditions. The assessor updates these values on a regular cycle—typically every three years—but may conduct interim adjustments for new construction, major renovations, or significant changes in market conditions.

Once the market value is established, the county applies a uniform “assessment ratio” of 7.15 % for residential properties and 9.75 % for non‑residential properties. The result is the **assessed value**, which is the base upon which tax rates are applied.

Chaffee County’s tax rates are expressed as **millage rates**—the amount of tax payable per $1,000 of assessed value. Millage rates are set separately by each taxing authority (county, school district, fire protection district, etc.) and are combined to produce the **total mill levy**. For example, a total levy of 18.5 mills means a homeowner owes $18.50 for every $1,000 of assessed value.

Available Exemptions

Colorado law provides several exemptions that can reduce the assessed value or the tax due on a property. In Chaffee County you may qualify for one or more of the following:

• Homestead Exemption – Reduces the taxable value of a primary residence by up to $150,000 (or 7.15 % of the market value, whichever is less) for owner‑occupied homes.
• Senior Citizen Exemption – Residents age 65 or older may receive an additional reduction of up to $75,000 in taxable value, provided they meet income limits set by the state.
• Disability Exemption – Qualified persons with a permanent disability can receive the same $75,000 reduction as seniors, regardless of age.
• Veteran Exemption – Veterans who served at least 90 days of active duty (or were disabled in service) are eligible for a $500 reduction in taxable value. Surviving spouses may also qualify.

All exemptions must be applied for through the Chaffee County Assessor’s Office, typically by March 1 of the tax year. Supporting documentation (proof of age, disability status, military service, etc.) is required.

Payment Schedule & Deadlines

Chaffee County follows Colorado’s two‑installment tax payment schedule:

• First Installment – Due October 1. Failure to pay by this date incurs a 10 % penalty plus interest on the unpaid balance.
• Second Installment – Due March 1 of the following year. A late‑payment penalty of 10 % and accrued interest also apply after this deadline.

Taxpayers may choose to pay the full amount in a single payment before the first deadline, which eliminates both penalties and interest. Payments can be made online, by mail, or in person at the County Treasurer’s Office. Some lenders include property tax in monthly mortgage escrow payments, automatically disbursing funds on the homeowner’s behalf.

Appealing Your Assessment

If you believe your property has been over‑assessed, you have the right to appeal:

• File a Notice of Appeal – Submit the form to the Chaffee County Assessor’s Office within 30 days of receiving the assessment notice (usually by May 15).
• Gather Evidence – Compile recent comparable sales, independent appraisals, or evidence of property defects.
• Hearing – The Assessor’s Review Board will schedule an informal hearing. Be prepared to present your evidence and answer questions.
• Decision – The board issues a written decision. If you disagree, you may further appeal to the Colorado Board of Assessment Appeals or the district court.

Throughout the process, maintain clear records and adhere to all filing deadlines. Consulting a qualified property tax professional can improve the chances of a successful outcome.