What is the Property Tax Rate in Colorado?
Based on HomeLight’s analysis of publicly available data, the average effective property tax rate for a primary residence in Colorado is approximately 0.50% of its estimated value. This is lower than the national average of 0.90%.
For example, with a 0.50% effective tax rate, a homeowner with a $597,500 home might pay around $2,988 in annual property taxes.
An effective property tax rate represents the actual percentage of a property’s market value that a homeowner pays in taxes, considering the assessed value and any exemptions or deductions.
Note: HomeLight’s Colorado property tax calculator provides a ballpark estimate for a primary residence using average rates. Your tax can vary based on location and the specific taxing districts (e.g., schools, fire districts, and libraries) that apply to your parcel.
Find a Top-Rated Colorado Buyer's Agent
HomeLight can connect you with top agents in your selected Colorado market. Whether you’re buying or selling, we analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs.
Are There Property Tax Exemptions in Colorado?
Homeowners in Colorado may qualify for several property tax exemptions that can lower their tax bill. These are offered through The Colorado Division of Property Taxation, depending on your location. Common exemptions include:
- General homestead exemption: Qualifying Colorado homeowners can apply for a property tax exemption of up to $250,000.
- Over-65 exemption: Qualified seniors, and or disabled seniors can also apply for a property tax exemption of up to $200,000.
- Disabled individual exemption: Disabled homeowners can apply for a property tax exemption of up to $350,000.
- Military or veteran exemption: If eligible, disabled veterans can apply for a property tax exemption of 50% of the first $200,000 of the property’s value.
If you’re buying a home in Colorado, note that property tax exemptions do not automatically transfer from the previous owner. After the home changes hands, you’ll need to reapply based on your own eligibility.
When Are Colorado Property Taxes Due?
Property taxes over $25 are due on April 30 in Colorado or in two equal payments, due on the last day of February and June 15.
What Do Property Taxes Pay For in Colorado?
Local property taxes in Colorado pay for important local services, including:
- Public schools
- Police, fire, and EMS services
- Roads, streets, and traffic signals
- Parks, libraries, and community centers
- City and county government operations
- Infrastructure like water, sewer, and trash services
- Repayment of local bond projects (such as transit and school improvements)
Yes, You Can Buy Before You Sell. Why Move Twice?
Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.
What Does It Cost to Buy a Home in Colorado?
How Much House Can You Afford?
Affordability in Colorado depends on your income, debt, credit score, and mortgage rate. With a median household income of around $92,911 in the Centennial State, a buyer might afford a home in the $300,000 range using standard debt-to-income guidelines. However, with the Colorado median home price hovering at $597,500, many buyers need dual incomes or additional savings to qualify.
Use HomeLight’s Home Affordability Calculator to estimate your budget based on your income, debts, and current rates.
What Down Payment Will You Need in Colorado?
According to NerdWallet, the average down payment on a house in Colorado is 18.3%. However, down payment amounts vary widely depending on loan type and credit score. While 20% used to be the expected standard, many buyers put down between 5% and 15%, with 3% options available for FHA and some conventional first-time buyer loans.
For a $597,500 home, here’s what your down payment could look like:
- 3% down = $17,925
- 5% down = $29,875
- 10% down = $59,750
- 15% down = $89,625
- 20% down = $119,500
Try HomeLight’s Down Payment Calculator to see how different down payments affect your monthly payment and loan size.
How Much Are Closing Costs in Colorado?
Buyers in Colorado can expect to pay about 6.7% of the purchase price in closing costs. These may include:
- Loan origination and underwriting fees
- Title insurance and escrow fees
- Appraisal and inspection costs
- Prepaid property taxes and homeowners’ insurance
- Filing and recording fees
For a $597,500 home, that means estimated closing costs of $11,950 to $29,875. Use HomeLight’s Colorado Closing Costs Calculator to get a personalized estimate based on your expected Colorado home purchase price.
How To Find a Trusted Colorado Real Estate Agent
An experienced Colorado agent can help you understand local tax rates, school districts, and development trends — and guide you toward neighborhoods that fit your lifestyle and budget.
HomeLight’s free Agent Match tool uses data from over 27 million transactions and thousands of verified reviews to match you with top Colorado agents based on proven performance. Tell us a little about your buying plans and get matched today with no obligation.
Additional resources when searching for a trusted buyer’s agent in Colorado:
- How to pick a buyer’s agent
- How to find a trusted Realtor in another state
- Why hire a buyer’s agent
- How much are Realtor fees?
- Questions to ask a buyer’s agent
Buying and Selling? Consider “Buy Before You Sell”
If you’re buying a new home in Colorado but need to sell your current property first, HomeLight’s Buy Before You Sell program can simplify the entire process. This modern solution helps you unlock equity from your current home so you can make a non-contingent offer on your new home — and only move once. Watch the short video below to see how it works.