If you are a homeowner in Douglas County you probably received your tax statement in the mail last week. Homeowners across the board are seeing their property taxes rise as home values rise. Homes are reappraised every two years on odd numbered years, so this years’ statement reflects tax on the new assessed value. The 2015 reappraisals used sales from July 1, 2012 through June 30, 2014 to come up with current value.
The Douglas County real estate market saw an overall increase in property value of 15.5% in 2015 alone, according to the county assessor’s office. Lone Tree had the largest value increase of 19.29% from 2014 to 2015. Castle Rock was right behind Lone Tree at 18.11% increase in value.
Property taxes are determined by multiplying the assessed value by the mill levy (the “tax rate” that is applied to the assessed value of a property) and dividing it by 1,000.
Property taxes can be paid in two installments: the first half due on Feburary 28 and the second half due on June 15, or they can be paid in full by April 30. Residents are able to view their full tax statement online at www.douglascotax.com.