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ELK CREEK Tax Calculator

What might a potential property tax increase mean for you?

You can either calculate it for yourself using the steps below or use our calculator by inputting the actual value of your residential property. Also find information below about the senior property tax exemption.

Market value of your residential property
This is for estimation purposes only, so use your best judgment. For a more accurate estimate, look up the most recent valuation on your property from the Jefferson County or Park County Assessor. Please note that, based on current market conditions, it's possible that your property is worth more today than the date of your last assessment. 
$
Calculate
Your assessed value
(the portion of your property value you pay taxes on; the residential rate is set by the state legislature each year and the rate for 2024 is anticipated to be 6.95%)
$
Proposed mills and your annual cost
(the mills considered for an increase on the November 2023 ballot to properly fund the consolidated district)
mills
$
Estimate to ensure a financially sustainable future for your fire protection district
$
per month
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How Property Taxes are Calculated

In Colorado, property taxes are calculated using three basic factors:

  1. The actual value of the property
  2. The assessment rate, which is set by the State
    • 6.95% for residential property
    • 27.9% for commercial property
  3. The local mill levy, which is determined by totalling up each local government that levies a property tax where the property is located, such as counties, schools, and special districts like recreation, libraries, water and others

Calculate Your Property Taxes

  • Actual Value x Assessment Rate = Assessed (aka Taxable) Value
  • Assessed Value x Mill Levy = Annual Property Taxes

Example using a $500,000 residence and 10 mills (1 mill = $1 per $1,000 of property value)

  • $500,000 X 6.95% = $34,750 assessed (aka taxable) value
  • $34,750 X 0.010 = $347.50 annual taxes ($28.96 monthly*)

*Keep in mind that most people pay their annual property tax bill through their monthly mortgage (escrow) payments.

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