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What you Need to Know About Property Valuations
Property valuations are sent out every odd year in Colorado. The property valuation notice alerts property owners of any changes to their property's valuation. In Colorado, the property valuation is only one part of a three-part equation to determine property taxes. The other parts are the statewide assessment rate, determined by the state legislature and the local mill levy rate set by the various taxing authorities of school districts, fire districts and other local governments.
The Assessor’s role is to determine the market value of a property as of a certain date. The valuation done is collected in arrears, per state statute, which means that the value of the property in a notice of valuation received in May of 2025 and 2026, for example, is actually being taken from data gathered from July 1, 2022 through June 30, 2024.
Tax Notice and Payment
The property tax notice will be sent to the property owner on record, not the mortgage company for the property. When you receive your notice, it is recommended you check with your mortgage company to clarify whether you are responsible to make the payment or if they will make the payment on your behalf.
If you pay your property taxes in two installments, the first half of your property tax is due by the last day of February and the second half is due by June 15 or the next business day. You can also choose to pay the full amount by April 30. If taxes aren’t paid by the due dates, interest starts to accrue at a rate of 1% per month. The Treasurer’s Office sends delinquent notices to remind taxpayers their account is unpaid. Learn more about paying your property taxes on the Treasurer's web page.
Understanding your Property Valuation
The property valuation document informs you of the actual value of your property. This page is your one-stop-shop for all the information and resources you may need.
If you'd like to schedule an appointment with the Assessor team, contact them directly at assessor@broomfield.org or 303-464-5819.
What does the assessor do?
Property taxes impact everyone, so it’s important to understand what all goes into the process and who is involved. A key to understanding property taxes is understanding the role of an Assessor.
There is a lot of misunderstanding about the role of assessors, and how they affect the property tax that homeowners pay. Get to know Broomfield’s Assessor and what they do for the community.
Assessors don’t set tax rates or chase tax dollars. An assessor is only interested in fairly determining property values. Property tax is determined by a consistent formula: Assessment Rate x Value x Tax Rate = Property Tax. Assessors only affect one of these values: the value. Assessors are fellow taxpayers working to ensure the process for determining values is equitable.
So how does an assessor determine how much your property is worth? First, the assessor looks at similar properties that have sold, their sale prices, and the terms and conditions of each sale. That’s the reason your home won’t just be compared to the place next door. Studying things like square footage, age and location, helps assessors determine how comparable another property is to yours.
How do I read my tax notice?
Let’s look at the breakdown of what to expect on your property tax notice. If you are a property owner in the City and County of Broomfield, you should expect to see your property tax notice emailed or mailed to you every year around the third week of January. The property tax notice will contain information about the property including the legal description, property address, values, and breakdown of taxes to be distributed to each tax authority.