Rate Breakdown

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

How Property Tax Works in Phillips County

Phillips County determines a property’s taxable value through an annual assessment conducted by the County Assessor’s Office. The assessor first establishes the market value of the land and any improvements (such as a house or outbuildings) as of January 1. This market value is then multiplied by a state‑mandated assessment ratio—typically 7.15% for residential property and 29% for commercial property—to arrive at the assessed value.

The final tax bill is calculated by applying the total “millage rate” to the assessed value. One mill represents one‑tenth of one percent (or $1 per $1,000 of assessed value). In Phillips County, the millage rate is a combination of several components: the county levy, school district levies, fire protection, water and sewer districts, and any special districts that serve the property. As of the most recent fiscal year, the combined millage rate for an average residential parcel is approximately 85 mills, but it can vary widely depending on the exact location and the districts involved.

Available Exemptions

Colorado offers several property‑tax exemptions that can lower the assessed value before the millage is applied. Phillips County residents may qualify for the following:

• Homestead Exemption: Reduces the taxable value of a principal residence by $150,000 (or the full assessed value if it is lower). This exemption applies automatically when a property is classified as a homestead.
• Senior Citizen Exemption: Residents age 65 or older may receive a senior exemption that further lowers the taxable value by up to $75,000, provided they meet income guidelines set by the state.
• Disability Exemption: Qualified permanently disabled homeowners can claim an additional $75,000 exemption, again subject to income eligibility.
• Veteran Exemption: Colorado veterans (or their surviving spouses) who have served at least 90 days of active duty may qualify for a $125,000 exemption on their primary residence, with additional benefits for those who are disabled or receiving a pension.

All exemptions are applied to the assessed value before the millage rate is calculated, so they can produce substantial savings. To claim any of these exemptions, owners must file the appropriate application with the Phillips County Assessor by March 31 of the tax year.

Payment Schedule & Deadlines

Phillips County property taxes are due in two installments:

• First installment: Due October 1 (or the first business day after October 1) for the portion of the tax bill covering the calendar year.
• Second installment: Due January 10 of the following year for the remaining balance.

Taxpayers may also elect to pay the full amount in a single payment before the first deadline to avoid any interest accrual. Late payments are subject to a 1% penalty on the overdue amount after the first installment, plus a 0.5% per month interest charge until the balance is settled. The county also offers a limited “installment plan” for owners who demonstrate financial hardship; applications must be submitted to the Treasurer’s Office with supporting documentation.

Appealing Your Assessment

If you believe your property’s assessed value is inaccurate, you have the right to appeal the assessment within a strict timeline:

• Notice of Appeal: File a written Notice of Appeal with the Phillips County Assessor’s Office no later than July 31 of the assessment year.
• Informal Review: The Assessor’s Office will review the claim, may conduct a re‑inspection, and will issue a revised assessment if warranted.
• Formal Hearing: If the informal review does not resolve the dispute, you may request a formal hearing before the Board of County Commissioners. The hearing must be scheduled within 60 days of the appeal notice.
• Further Appeal: Unresolved cases can be taken to the Colorado Board of Assessment Appeals, and ultimately to the state courts, but each step requires additional documentation and may involve filing fees.

To strengthen your case, gather recent comparable sales, appraisal reports, and any evidence of property damage or improvements. The Phillips County Assessor’s website provides templates and detailed instructions to guide you through each stage of the process.