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What is the formula for calculating taxes?

April 26, 2017calculating Formula taxes

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What is the formula for calculating taxes?

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Current Actual Value x Assessment Rate* = Assessed Value Assessed Value x Tax Rate (Mill Levy) = Estimated Property Tax *Current Assessment Rate (2006 and 2007) is projected to be 7.96% for residential property and 29% for all other property. The Colorado State Legislature adjusts the residential assessment rate in reappraisal (odd- numbered) years. ACTUAL VALUE X ASSESSMENT RATE X MILL LEVY = ESTIMATED PROPERTY TAXES.