ColoradoBiz Magazine
Taxes are going up 164% in Denver County
November 17, 2020
It has been quite the election cycle with lots of ups and down. One thing is certain, Colorado voters were in a spending mood which will result in Colorado property owners paying a lot more in taxes on everything, especially in Denver County.
Taxes in Denver will increase by $2400/year minimum for the median home. The biggest change is the repeal of the Gallagher amendment along with numerous bond and sales tax initiatives.
What does this mean for Colorado real estate?
How do Colorado Property taxes work now?
Under Colorado law there are amendments that govern how taxes are calculated. One of the major drivers of taxes is the Gallagher amendment. The Gallagher Amendment is like a balancing scale with two arms.
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