COLORADO SPRINGS, Colo. — The first half of this year's property taxes are due today.
Because of rising home values, some Coloradans saw their taxes go up by thousands of dollars.
Property taxes are higher this year because of the rising property values and a change in the law a few years ago that shifted the tax burden from businesses to homeowners. The El Paso County treasurer, Chuck Broerman says the bill for property taxes was mailed out later than usual. That’s because lawmakers met in November for a special session to provide tax relief to Colorado property owners. Still, property taxes are up, and up to 40 percent for some Colorado homeowners. However, in El Paso County, this year’s tabor refund brought down property taxes by 134 dollars for local homeowners. Overall, chuck says the increase in property taxes was years in the making.
“Over the many number of years, more and more people want to move to Colorado and enjoy the things that have brought many of us to it. So that increased interest in buying property here, so that raised the rates,” said Broerman.
“Also, I think the pandemic with the really low interest rates, it made houses very affordable so people bought homes and that demand drove up the price so there’s many factors that contribute to the increase,” said Broerman.
Although property taxes went out later this year, they are still due on the same schedule. For those who pay their property taxes in two installments, the first payment is due on Feb.29. The second half will be due on June 17. If you want to pay your property taxes in one full payment, that is due on April 30.
It's important to note that many homeowners pay their taxes through their mortgage company. If so, you do not need to worry about the property tax bill. You can pay by using a drop-off box at the El Paso County Treasurer’s office on Garden of the Gods Road, by calling, or online.
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