(EL PASO COUNTY, Colo.) — El Paso County has issued notices of property valuation and addressed the increase in property values that homeowners are seeing but assured them their property taxes will not increase by the same percentage.
According to El Paso County, there are significant increases in valuations across the county due partially to supply chain and inflation issues. Another factor contributing to increases is the repeal of the Gallagher Amendment which had previously kept Residential property assessment rates low by increasing Non-Residential assessment rates.
El Paso County said the Board of County Commissioners (BOCC) has not raised the tax rates and is not legally able to do so because of the Taxpayer Bill of Rights.
“I understand residents’ concern with the increase in property valuation,” said Assessor Mark Flutcher. “I want residents to know that the increase in valuation will not be the same increase for property taxes because tax rates will be set in the fall and are governed by the Taxpayers Bill of Rights.”
In addition to TABOR, property taxes are impacted by mill levies from various districts in the county. El Paso County said there are a number of each type of district and amounts break down to:
- County, City & Towns = 9
- Fire & Library Districts = 23
- Sanitation Districts = 2
- Water Districts = 10
- Sanitation & Water Districts = 4
- School Districts = 17
- Special Districts = 31
- Metropolitan Districts = 185
El Paso County said the estimated property tax at the bottom of your 2023 Notice of Value assumes mill levies are the same as 2022 but many mill levies will have to be reduced to comply with TABOR.
El Paso County said, if you have concerns or disagree with your assessed value, you have from May 1, through June 8, to appeal.
