Rate Breakdown

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

How Property Tax Works in Park County

Park County determines property taxes by first establishing the market value of each parcel, then applying the county‑wide and local millage rates. The process follows Colorado’s Uniform System of Property Taxation, which means the county assessor’s office conducts an annual reassessment, typically every January 1, to reflect current market conditions.

• Assessment: The assessor estimates the market value of land and improvements. This value is then multiplied by the “assessment ratio”—75 % for residential property and 100 % for commercial or industrial parcels.
• Millage Rates: One mill represents one dollar of tax per $1,000 of assessed value. Park County’s combined millage rate (county, school district, special districts, and any municipal levies) generally falls between 70 and 95 mills, but exact figures can change annually based on budget approvals.
• Tax Calculation: Tax Due = Assessed Value × Millage Rate ÷ 1,000. For example, a home with a market value of $300,000 would have an assessed value of $225,000; at a 80‑mill rate, the annual tax would be $18,000.

Available Exemptions

Colorado law provides several exemptions that can reduce the taxable portion of a property’s assessed value. In Park County, homeowners should verify eligibility each year.

• Homestead Exemption: Reduces taxable value by $50,000 for owner‑occupied residences, lowering the assessed amount used in the tax calculation.
• Senior Citizen Exemption: Residents age 65 or older may receive a $15,000 reduction in taxable value, plus an additional $2,000 for each dependent.
• Disability Exemption: Qualifying disabled homeowners can claim a $15,000 exemption, with an extra $1,000 for each dependent.
• Veteran Exemption: Honorable discharged veterans (or surviving spouses) may obtain a $10,000 exemption; those with a service‑connected disability receive an additional $2,000 per dependent.

All exemptions must be applied for on the county’s annual exemption form and are subject to verification.

Payment Schedule & Deadlines

Park County property taxes are payable in two installments. Timely payment avoids penalties and interest, while late payments can accrue additional charges.

• First Installment: Due October 1. The amount is 50 % of the total tax bill.
• Second Installment: Due January 1 of the following year, covering the remaining balance.
• Late Payment Penalties: A 10 % penalty plus 1 % interest per month is applied to any installment not paid by its due date.
• Payment Options: Payments can be made online through the Colorado Department of Revenue’s MyDRS portal, by mailed check, or in person at the Park County Treasurer’s Office. Some lenders also collect taxes through escrow accounts.

Appealing Your Assessment

If you believe your property’s assessed value is inaccurate, Park County offers a clear appeals process. Acting promptly is essential, as deadlines are strict.

• File a Notice of Appeal: Submit the form to the County Assessor’s Office no later than July 31 following the assessment year.
• Gather Evidence: Provide recent comparable sales, an independent appraisal, or documentation of property defects that may affect value.
• Schedule a Hearing: The Board of Equalization will set a hearing date, usually within 30 days of receiving your appeal.
• Decision & Further Review: If the Board’s decision is unsatisfactory, you may request a review by the Colorado Board of Assessment Appeals within 30 days of the Board of Equalization’s ruling.

Following these steps ensures your concerns are heard and gives you the best chance of achieving a fair assessment.