DENVER — Colorado Gov. Jared Polis is expected to announce a plan Monday to help homeowners in Colorado with their property taxes.
At noon Monday, Polis will hold a news conference on a plan to reduce property tax rates and implement long-term protections to prevent property tax increases.
9NEWS will livestream the news conference in the video player above and on the free 9NEWS+ app on Roku and Fire TV.
> Video above: Why Colorado property tax bills are going up
This news comes after nine metro Denver area county property assessors announced last week that property valuations saw a double-digit increase in their biannual assessment.
Douglas County saw the largest median residential increase at 47%, and the lowest was 33% in Denver. The metro area also includes Adams (38% increase), Arapahoe (42%), Boulder (35%), Broomfield (41%), Elbert (35%), Jefferson (36.5%) and Larimer (40%).
Property assessments, which are done every two years, are one piece of a three-part equation used to determine state property taxes.
The other two core components are the assessment rate determined by the state legislature, and the tax rate (or mill levy) set by various local authorities. Residents will not know the amount due for 2024 property taxes until the end of 2023, when the tax and assessment rates are set.
Assessors observed transactions and market conditions from Jan. 1, 2021, through June 30, 2022. Assessments were mailed to property owners by May 1.
> Video below: Watch the news conference with county assessors in the Denver metro area announcing property valuations:
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Read More:Polis to announce plan to cut Colorado property taxes
2023-05-01 16:55:00