‘I was in shock’: Higher property values means higher taxes for El Paso County homeowners

‘I was in shock’: Higher property values means higher taxes for El Paso County homeowners

Everyone’s taxes are rising because Colorado is booming with high sales now, and when sale values are high, then property values increase – which means your property value has increased = higher taxes. You are able to appeal your assessed value if you feel, and have evidence, that you are unable to sell your property at the market value shown.

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 · Property owners in and around Austin who want to protest their tax appraisal have until May 15 to do it. If you’re a little confused about how to launch an appeal once you get your appraisal in the mail, you’re not alone. Property taxes are kind of boring and complicated.

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Budget for an affordable monthly payment View home prices that work with your budget Understand how much house you can afford * Other factors such as existing debt, down payment, property taxes and mortgage insurance can end up affecting your payment amount. Budget looking good? Great! Get your mortgage consult with a Home Loan Specialist.

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This appraised value is the number added to the total county property values to determine the Mill Levy, and it is the value that will be used to determine your taxes. For example, a homeowner with property valued at $100,000 in an area with a 1.5% tax rate will pay $1,500 in annual property taxes.

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City of El Paso addresses why property tax rate continues to remain high. But, the city says many of the properties in El Paso are given lower values than what they are actually worth by the CAD. So the tax rate is higher than in other cities because the low-valued properties aren’t producing the tax revenue they should be.

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