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Monday, Oct. 13, 2025

Does Colorado have one of the lowest average property tax rates?

Tyler Hickman, The Colorado Sun
yes

Colorado’s 0.5% effective property tax rate — the average rate homeowners pay statewide — was the tenth lowest in the country in 2023, the nonprofit Tax Foundation found.

Property taxes are based on the assessed value of a home, determined by local government and school district assessment rates, then taxed at a rate, or mill levy, set by local governments. Property tax revenue stays in the county in which it is collected, supporting public schools and local government.

Colorado has the 15th highest amount of property tax collected per capita, with the average homeowner paying $2,126 in taxes. This is partly due to the state’s median home sale value, estimated at $550,000 as of August by the Colorado Association of Realtors.

Homeowners in Pitkin County, which had the highest median home value in 2023, paid an average of $4,450 in property taxes over a five-year period. 

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