Understanding Property Taxes in Lone Tree, CO

Property taxes are a key factor for homeowners and investors in Lone Tree, CO. Whether you’re buying, selling, or investing, understanding how property taxes work can help you make informed decisions. This guide will cover Lone Tree’s property tax rates, assessment process, and potential exemptions to ensure you’re fully prepared.

1. How Property Taxes Work in Lone Tree, CO

Property taxes in Douglas County, which includes Lone Tree, are based on the assessed value of the property and local tax rates. These taxes fund schools, infrastructure, emergency services, and public programs.

Key Factors Affecting Property Taxes:

• Assessed Property Value – Determined by the Douglas County Assessor’s Office.

• Mill Levy (Tax Rate) – The local government sets the mill levy based on funding needs.

• Exemptions & Deductions – Some homeowners may qualify for reductions in taxable value.

2. Current Property Tax Rates in Lone Tree

How Tax Rates Are Calculated:

Property taxes in Lone Tree are calculated using the following formula:

📌 (Assessed Value of Home) x (Assessment Rate) x (Mill Levy) = Property Tax Due

• Residential Assessment Rate: 6.765% (subject to change based on Colorado legislation).

• Commercial Assessment Rate: 27%.

• Average Mill Levy in Lone Tree: ~90-110 mills (varies by district and funding needs).

For example, if your home has an assessed value of $1,000,000:

• $1,000,000 x 6.765% = $67,650 (Assessed Value)

• $67,650 x 0.100 (100 mills) = $6,765 in Property Taxes Per Year

Your exact tax amount depends on specific local levies and any applicable exemptions.

3. How Property Values Are Assessed

The Douglas County Assessor’s Office determines your home’s assessed value based on:

• Recent Comparable Sales – Home sales in the last 18-24 months are reviewed.

• Home Improvements & Renovations – Additions or upgrades may increase assessed value.

• Market Trends – Changes in the local real estate market impact property assessments.

Assessments are conducted every two years, and homeowners receive a Notice of Valuation (NOV), which details the new assessed value.

4. Property Tax Exemptions & Reductions

Homeowners in Lone Tree may qualify for tax exemptions to lower their property tax burden.

Common Exemptions:

✔ Senior Property Tax Exemption – Available for homeowners 65+ years old who have lived in their home for at least 10 years. ✔ Disabled Veteran Exemption – Provides tax relief for qualifying veterans with disabilities. ✔ Agricultural Exemptions – Available for properties classified as agricultural land. ✔ Homestead Exemption – May apply to primary residences under specific state programs.

Homeowners must apply for exemptions through the Douglas County Assessor’s Office.

5. Paying Your Property Taxes

Property taxes in Lone Tree are paid in arrears, meaning you pay for the previous year’s tax assessment.

Payment Deadlines:

• First Half Payment Due: February 28

• Second Half Payment Due: June 15

• Full Payment Due: April 30

Payments can be made online, by mail, or in person through the Douglas County Treasurer’s Office.

Late payments may result in penalties and interest, so it’s important to pay on time or set up an escrow account with your mortgage lender.

6. How Property Taxes Impact Homeowners & Investors

For Homeowners:

• Higher property values = Higher taxes, so be prepared for periodic increases.

• Budget accordingly by factoring property taxes into your monthly housing costs.

• Appeal if necessary – If you believe your home is over-assessed, you can file an appeal with the county.

For Real Estate Investors:

• Higher taxes can impact cash flow for rental properties.

• Commercial properties have higher assessment rates, increasing overall expenses.

• Understanding tax deductions and exemptions can help maximize investment returns.

Conclusion: Plan for Property Taxes in Lone Tree

Whether you’re a homeowner or investor, staying informed about property tax rates, assessments, and exemptionscan help you make better financial decisions. Working with a knowledgeable real estate team ensures you stay ahead of market changes and tax obligations.

At Corken + Company, we help our clients navigate the real estate market and provide guidance on homeownership costs, including property taxes.

📞 Call us today at 303-858-8003
🌐 Visit our website at www.corken.co
🏡 Real Estate Solutions Without Limits