Show All Answers

1. Why am I getting an offset to my property taxes from Jefferson County?

Jefferson County is limited as to the amount of revenue it can collect and retain each year based on Article X, Section 20 of the Colorado Constitution (TABOR). The law requires that the amount over collected be given back to the tax payers the following year after over collection. The most effective and least costly way to give back the over collected amount is in the form of a mill levy reduction.

2. Why did Jefferson County over collect on property taxes during 2016?

Due to higher than anticipated property valuations in 2015, Jefferson County collected more in property tax during 2016 than the limit allowed.

3. How much is being offset against my tax bill and how is the offset calculated?

The reduction related to this over collection is 0.259 mills, which is 0259 multiplied by the assessed value of the property. This amount is deducted from your property taxes payable in 2017.

Residential Properties

• Example Actual value of property: $300,000
• Assessment rate: 0.0796
• Assessed value: $300,000 X 0.0796 = $23,880
• Jefferson County mill levy: 24.968 (without reduction)
• Amount of Jefferson County taxes owed during 2017: $23,880 X 0.024968 = $596.24
• Jefferson County mill levy reduction for TABOR: 0.259
• Reduction amount for 2016: $23,880 X 00259 = $6.18
• Total taxes owed to Jefferson County: $596.24 - $6.18 = $590.06

Commercial Properties

• Example Actual value of property: $300,000
• Assessment rate: 0.2900
• Assessed value: $300,000 X 0.2900 = $87,000
• Jefferson County mill levy: 24.968 (without reduction)
• Amount of Jefferson County taxes owed during 2017: $87,000 X 0.024968 = $2,172.22
• Jefferson County mill levy reduction for TABOR: 0.259
• Reduction amount for 2016: $87,000 X 00259 = $22.53
• Total taxes owed to Jefferson County: $2,172,22 - $22.53 = $2,149.69

4. Will I continue to receive a reduction in future years?

Jefferson County endeavors to collect only the amount of property tax allowable under state statute and will take prompt action to return any over collection to the taxpayers of Jefferson County.