WHY IS VACANT LAND AND COMMERCIAL ASSESSED AT 29 PERCENT AND RESIDENTIAL AT A LOWER RATE?
The differences in assessment rates between residential homes and other types of property is the result of an amendment to the Colorado Constitution, approved by the voters in 1982, which limited the residential share of the property taxes. The state legislature changes the residential assessment rate each reappraisal year to keep the property tax burden from shifting to residential property.
Related Questions
- What services is the $300 vacant land assessment paying for and why is the residential property rate of $153 less than vacant land when there is more property loss at risk?
- WHY IS VACANT LAND AND COMMERCIAL ASSESSED AT 29 PERCENT AND RESIDENTIAL AT A LOWER RATE?
- Why is vacant land and commercial assessed at 29%, and residential at 7.96%?
