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Property Taxes
Colorado Springs, CO
The Constitution of Colorado states that taxes for all property must
be equally assessed and levied. Personal property that is for nonbusiness
use is exempt.
El Paso County is responsible for assessment and collection of all
property taxes in El Paso County.
The components of property tax calculations are:
- Market value of property
- Assessment ratio
- Mill levy
Market values:
The County Assessor, in accordance with state regulations,
estimates actual market value of real property.
The company, subject to audit by the County Assessor, must
declare the value of commercial and industrial personal property.
Colorado Springs Economic Development Corporation
90 South Cascade, Suite 1050 | Colorado Springs, CO 80903
719-471-8183 | 719-471-9733 FAX | www.coloradosprings.org
last update: 03/06/07
Assessment levels:
The assessment level for commercial and industrial real and
personal property is 29% of market value. This is subject to
adjustment every other year.
Mill levies:
Mill levies are independently set by various taxing authorities; i.e.,
county, city, school districts, library district, special districts, etc.
The average total mill levy in 2005, for application 2006, was
approximately 67 mills.
Tax calculation:
Market Value x Assessment Level x Mill Levy = Approximate Taxes
Due
An industrial property with a market value of $2,000,000
$2,000,000 x 0.29 x 0.067
Property tax = $38,860
Source: El Paso County Assessor Office, January 2007
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