Rate Breakdown

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

How Property Tax Works in Teller County

Every parcel of real‑estate in Teller County is first assigned a market value by the County Assessor. The Assessor conducts an on‑site inspection (or uses recent sales data and computer‑generated models) once each calendar year, typically in the spring, and then updates the value to reflect any improvements, additions, or changes in market conditions. That assessed value is then multiplied by the county’s combined millage rate – the “mills” you see on your tax bill – to calculate the amount you owe.

• Assessed value: Usually 100 % of the market value for residential property; commercial and industrial properties may be assessed at a different percentage.
• Millage rate: A mill represents one‑tenth of one percent (0.001). Teller County’s overall rate varies yearly but typically falls between 12 and 15 mills, with additional portions added by the city of Cripple Creek, school districts, fire protection districts, and other special districts.
• Tax calculation example: A home assessed at $250,000 with a total millage rate of 13.5 mills would generate a tax bill of $250,000 × 0.0135 = $3,375.

Available Exemptions

Colorado law provides several exemptions that can lower your taxable base. While the state sets the exemption criteria, the actual application occurs through the Teller County Assessor’s office.

• Homestead exemption: Reduces the taxable value of a primary residence by up to $5,250 (as of the current tax year). To qualify, the property must be your legal residence and you must file a Homestead Exemption form.
• Senior citizen exemption: Residents age 65 or older may receive an additional reduction of $500 to $2,500, depending on income and whether they qualify for the “senior exemption” under state statutes.
• Disability exemption: Qualified individuals with a permanent physical or mental disability can have the same $5,250 reduction applied to their primary residence, provided they submit appropriate medical documentation.
• Veteran exemption: Disabled veterans (and surviving spouses) may receive an exemption of $5,250 for each 10% of disability rating, up to a maximum of $27,500. Active‑duty service members may also qualify for a partial exemption during periods of deployment.

All exemptions must be filed by March 1st of the tax year and are automatically renewed each year unless your circumstances change.

Payment Schedule & Deadlines

Teller County issues property tax bills in two installments, designed to spread the financial burden across the year.

• First installment: Due on August 1st. Payments made by this date avoid any interest or penalties.
• Second installment: Due on December 1st. A grace period of 10 days is allowed, after which a 2 % late fee is assessed.
• Late payment consequences: If either installment is unpaid after the grace period, interest accrues at 6 % annually on the delinquent amount, and the County may place a tax lien on the property.
• Payment options: Taxes can be paid online via the Teller County Treasurer’s portal, by mailed check, or in person at the Treasurer’s office. Many lenders also collect taxes through escrow accounts, which eliminates the need for direct payments.

Appealing Your Assessment

If you believe your property has been over‑assessed, you have the right to contest the valuation. The appeal process in Teller County follows a strict timeline:

• Notice of Appeal: File a written Notice of Appeal with the Teller County Assessor’s Office by June 30th of the tax year (or within 30 days of receiving the assessment notice).
• Supporting documentation: Include recent comparable sales, an independent appraisal, or evidence of property defects. The more detailed the documentation, the stronger your case.
• Hearing: An appointed hearing officer will review your appeal at a public hearing, usually scheduled within 60 days of filing.
• Decision: The hearing officer issues a written decision. If you disagree with the outcome, you may appeal to the Colorado Board of Assessment Appeals within 30 days of the decision.

Proactively reviewing your assessment and gathering comparable data early can dramatically improve the odds of a successful appeal.