For both seasoned real estate agents and new homeowners, understanding Colorado Springs property taxes is fundamental to navigating the local market. This comprehensive guide breaks down the Colorado Springs property tax rates, clearly explaining how local authorities calculate these levies, what vital services they fund, and key dates you must remember. 

By the time you finish this article, you will truly grasp Colorado Springs‘ property tax system, empowering you to make informed decisions and confidently advise your clients.

Colorado Springs Property Taxes in 2025

Property taxes in Colorado Springs, Colorado, directly fund essential local services. Your property’s assessed value and the local mill levy determine these taxes. Knowing these crucial details helps real estate agents inform their clients and allows homeowners to budget effectively.

How do authorities calculate property taxes in Colorado Springs?

First, the El Paso County Assessor determines your property’s actual value. Then, you multiply this value by the assessment rate, which the State of Colorado sets. Significantly, for residential properties, this rate is much lower than for commercial properties.

Next, you multiply the resulting assessed value by the local mill levy. A “mill,” by definition, represents $1 for every $1,000 of assessed value. Various taxing authorities, such as the city, county, school districts, and special districts, each establish their own mill levies. Ultimately, these individual mill levies combine to form the total mill levy for your property’s specific location.

Important dates for Colorado Springs property taxes

Staying on top of your Colorado Springs property tax due dates is vital. Typically, the county mails tax statements in January. You actually have a few payment options: you can pay your property taxes in one full payment or choose two half payments.

Here are the key dates you need to remember for the current year’s taxes, which the county collects one year in arrears:

  • February 28 (Last Day of February): This marks the deadline for your first half payment.
  • April 30: This is your deadline for the full payment if you select this option. If your total tax amount is $25.00 or less, you absolutely must pay in full by this date.
  • June 17: This serves as the deadline for your second half payment.

You must ensure the El Paso County Treasurer’s office receives your payment by the due date. While they do accept U.S. Postal Service postmarks dated on or before the due date, remember there is no grace period. Therefore, payments received after these deadlines will accrue interest at a rate of 1% per month. So, make sure you keep these dates clearly marked on your calendar to avoid penalties and interest!

Where do your Colorado Springs property taxes go?

Your Colorado Springs property taxes contribute directly to a wide variety of essential local services. These vital funds support public education, local fire protection, law enforcement, parks and recreation, and crucial infrastructure projects like road maintenance. Furthermore, they help fund libraries and other vital community services that the City of Colorado Springs and El Paso County provide. Understanding where these funds go truly highlights the significant impact property taxes have on our community’s quality of life.

What are the current Colorado Springs property tax rates?

The specific Colorado Springs property tax rate results from various taxing entities combining their mill levies based on a property’s location. While the total tax rate homeowners pay combines all these various levies, the City of Colorado Springs sets its own distinct mill levy.

The City’s general mill levy rate currently sits at 3.554 mills per their 2025 final budget. To find the precise total tax rate that applies to your specific property, we recommend you consult the El Paso County Treasurer’s website; you can easily look up detailed tax information by address there.

Will property taxes in Colorado Springs rise this year?

Property taxes in Colorado Springs can fluctuate based on changes in property values and local taxing authorities’ adjustments to mill levies. While the exact impact for the upcoming year will undoubtedly depend on various factors, Colorado has recently seen legislative efforts aimed at providing some property tax relief.

However, increases in property values can still lead to higher tax bills, even if mill levies remain stable. Therefore, real estate agents should actively stay informed about these potential changes to effectively advise clients navigating the Colorado Springs real estate market.

Nearby cities and their mill rates

When you evaluate property tax in Colorado Springs, it’s certainly helpful to compare its rates to those of nearby cities and other areas across Colorado. While Colorado generally boasts lower property taxes compared to many other states, rates can vary significantly by county and even by municipality. For instance, areas within El Paso County may have different mill levies depending on the specific special districts they belong to.

Here are some comparative mill levies for nearby towns and cities:

  • Town of Monument: 5.000 mills
  • City of Manitou Springs: 11.408 mills
  • City of Fountain: 15.100 mills
  • Town of Calhan: 17.563 mills
  • Town of Green Mtn. Falls: 17.588 mills

Consequently, when you evaluate the overall cost of homeownership, understanding how property taxes, compare to surrounding areas provides valuable perspective for potential buyers.

Your ongoing guide to Colorado Springs property taxes

Staying informed about Colorado Springs property taxes remains a crucial aspect of homeownership and real estate investment. Property tax rates and assessments directly influence affordability and significantly impact the local Colorado Springs real estate market. 

For real estate agents, having a solid grasp of this information truly empowers you to better serve your clients, whether they are buying their first home or investing in new properties. Therefore, regularly checking the El Paso County Treasurer and Assessor websites will always provide you with the most up-to-date information.

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FAQ

Yes, Colorado offers a Senior Property Tax Exemption that can reduce the assessed value for qualifying senior citizens who meet age, ownership, and residency requirements.

Yes, Colorado has a Property Tax Deferral Program allowing qualifying seniors and active military personnel to postpone tax payments, essentially turning them into a state loan against the property.

Colorado Springs generally boasts a lower median property tax rate compared to the overall Colorado state average, making it an attractive option for homeowners.

Yes, the Colorado Property Tax, Rent, and Heat (PTC) Rebate program provides financial assistance for low-income seniors and individuals with disabilities statewide.

Counties like Kiowa County, Broomfield County, and Adams County often see higher effective property tax rates compared to other areas in Colorado.