Imagine waking up to a 40% spike in your property taxes. That's the harsh reality many Colorado homeowners are facing, and it's leaving them reeling. Take Mike Fitz, a 76-year-old Centennial resident, for example. He's lived in his single-family home since 2001, and two years ago, his property tax bill to Arapahoe County was $3,876.98. Fast forward to 2026, and that number has skyrocketed to $5,435.47, even after a $750 senior homestead exemption. That's a staggering 30% increase, or over $1,500 more, for someone on a fixed income relying on Social Security and a pension.
And Mike isn't alone. Thousands of Colorado homeowners are experiencing similar sticker shock, with property tax hikes ranging from 20% to a jaw-dropping 40%. For many, this translates to an extra $1,000 or more in taxes over the past two years.
But here's where it gets controversial: These dramatic increases stem from changes to Colorado's property tax laws enacted during the 2022 and 2024 legislative sessions. In 2022, Senate Bill 22-238 offered temporary relief by reducing property tax assessment rates and taxable valuations on residential properties by $15,000 for 2023 and 2024. The state footed most of the bill for this reduction, which benefits counties, special districts (like fire and police), and school districts.
Then, in 2024, lawmakers passed Senate Bill 24-233, aiming to end what Governor Jared Polis called the “property tax wars” by increasing the valuation discount to $55,000. But here's the catch: both bills were designed as short-term fixes. Those discounts expired on January 1st for 2025 assessments, leading to the current surge in tax bills.
Boulder County Assessor Cindy Braddock anticipates a flood of calls from concerned residents as tax bills arrive. She warns that even homeowners whose property values haven't changed much could see higher bills. And this is the part most people miss: manufactured home owners will be hit particularly hard.
The $55,000 adjustment from SB 24-233 essentially eliminated property taxes for manufactured homes valued at or below that threshold. Now, with the adjustment gone, a manufactured home valued at $100,000 will see its tax bill double from $275 in 2024 to $550 in 2025.
Braddock emphasizes that while property taxes can be complex, her office aims to make the process as clear and stress-free as possible. She highlights two potential avenues for relief:
Tax Deferral Program: Homeowners can explore a low-interest loan program offered by the state treasurer, allowing them to pay their tax bill year-by-year. Applications are available from county treasurers and due by mid-March.
Appeal the Appraised Value: Homeowners can contest the assessed value of their property.
There might be a silver lining on the horizon. House Bill 24-1001, passed in the 2024 special session, modifies SB 24-233 by introducing a 10% reduction on the first $700,000 of appraised value. This could lead to lower property taxes for 2026, paid in 2027. However, the actual impact depends on individual property value increases and any new mill levies.
Despite the outcry, lawmakers at the state Capitol haven't yet addressed the issue. When asked if any legislation is in the works, the response was underwhelming – only two measures are currently being considered, neither of which tackle residential property tax rates.
Mike Fitz, feeling the brunt of this increase, believes he has the highest property tax hike on his street. He plans to appeal, frustrated by the seemingly unjustified rise in his tax obligation.
While Colorado boasts some of the lowest property tax rates in the nation, according to Rocket Mortgage, the state's high home values (median estimated at $502,200) mean residents still pay substantial property taxes compared to other states with higher rates but lower home values.
This situation raises important questions: Is the current property tax system fair? Are temporary fixes enough, or do we need a more sustainable solution? How can we balance the need for revenue with the financial burden on homeowners? Let us know your thoughts in the comments below.
