Colorado Property Tax Law Changes 2026: What Homeowners Need to Know

Updated March 2026

Key Takeaway

Colorado's residential assessment ratio was reduced to 6.765% (one of the lowest in the nation) through the Gallagher Amendment's legacy and subsequent legislation. The state reassesses on a biennial cycle (odd years), and the Senior Homestead Exemption covers 50% of the first $200,000 in actual value. Colorado's TABOR amendment also limits how much property tax revenue can grow.

Colorado Property Tax Snapshot: 2026

Median home value: $397,500
Average annual tax: $2,027
Effective tax rate: 0.51%
Assessment ratio: 6.765% of market value
Reassessment cycle: biennial (odd years)

The Assessment Ratio: 6.765%

Colorado's residential assessment ratio of 6.765% is among the lowest in the nation. This means a $400,000 home has an assessed value of just $27,060. The ratio was historically adjusted by the Gallagher Amendment (repealed 2020) to maintain a balance between residential and commercial property taxes. Post-Gallagher, the legislature has set the ratio directly, and it has fluctuated in recent years. Check that your assessment notice uses the correct ratio.

TABOR: Revenue Growth Limits

Colorado's Taxpayer's Bill of Rights (TABOR) limits how much property tax revenue local governments can collect. Revenue cannot grow faster than inflation + population growth without voter approval. This doesn't cap your individual assessment, but it constrains the total levy. TABOR refunds may also affect your state tax liability.

Biennial Reassessment

Colorado reassesses all property in odd-numbered years using a 28-month data window (July 1 two years prior to June 30 of the prior year). Your 2025 reassessment (for 2025-2026 taxes) used sales from July 2022 through June 2024. If market conditions have changed since that window, your assessment may not reflect current values -- this is a valid appeal argument.

Senior Homestead Exemption

Colorado offers one of the strongest senior exemptions:

Benefit: 50% of the first $200,000 of actual value exempt (saves roughly $700-$1,000/year)
Age: 65+ (or surviving spouse 58+)
Residency: Must have owned and occupied the home for 10+ continuous years
No income limit

The 10-year residency requirement is strict -- if you've moved in the last decade, you don't yet qualify even if you're 65+.

Property Tax Deferral for Seniors

Colorado allows seniors, disabled veterans, and active military to defer property taxes through the state's deferral program. The state pays your taxes and places a lien on the property. Interest accrues at a rate tied to the 10-year Treasury. The deferral amount plus interest is repaid when the property is sold or transferred.

Check Your 2026 Colorado Assessment

See if you're over-assessed based on current comparable sales.

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Colorado Appeal Process

Filing deadline: June 1
File with: County Board of Equalization
Evidence needed: Comparable sales, property condition photos, record corrections

2026 Action Checklist

Review your assessment notice when it arrives
Verify all exemptions are applied (homestead, senior, veteran)
Compare your assessed value to recent comparable sales
File your appeal by June 1 if over-assessed
Check your property record for errors (square footage, features, classification)

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