Trying to make sense of your Lakewood property tax bill? You’re not alone. Between assessed values, mill levies, and escrow, it can feel confusing the first time you dig in. This guide breaks down what matters for Jefferson County homeowners so you can budget well, avoid penalties, and know what to do if you disagree with your value. Let’s dive in.
How Lakewood property tax works
Property taxes in Colorado are based on two pieces: your assessed value and the total mill levy for your parcel. Once you understand those, the math gets much easier.
Assessed value vs. market value
- Market (actual) value is what the county assessor estimates your home would sell for in today’s market.
- Colorado applies a state assessment rate to that market value to produce your assessed value. The assessment rate is set by the state and can change, so always confirm the current number before budgeting.
- Formula: Assessed value = Market value × State assessment rate.
Mill levies explained
- A mill is $1 of tax per $1,000 of assessed value. Written as a decimal, 1 mill equals 0.001.
- Each taxing authority that serves your address sets its own mill levy. Your total levy is the sum of mills from all those entities.
- Formula: Property tax = Assessed value ÷ 1,000 × Total mill levy.
What your levy includes in Lakewood
Your total mill levy typically combines several parts:
- Jefferson County
- City of Lakewood municipal levy if you are inside city limits
- Local school district, often the largest share
- Special districts such as fire, water, sanitation, parks, libraries, metropolitan districts, or RTD
- Voter-approved bonds and overrides
Your tax statement lists each entity and its mills so you can see exactly where your dollars go.
Quick example for budgeting
Here’s an illustration to show the math. If a home’s market value is $500,000 and the state assessment rate is 7 percent, the assessed value equals $35,000. If the total mill levy is 80 mills, tax would be 35,000 ÷ 1,000 × 80 = $2,800. This is for example purposes only. Use your actual bill and the current assessment rate and mills for precise planning.
Roles and timing in Jefferson County
Understanding who does what will save you time and stress.
Who sets values and collects payment
- Jefferson County Assessor estimates market value, issues valuation notices, and maintains parcel records and exemptions.
- Jefferson County Treasurer sends tax bills, collects payments, and posts payments and penalties.
- City of Lakewood and other local taxing districts set budgets and levy mills. Their mills appear on your county bill.
Assessment notices and appeal windows
Colorado law provides for annual assessments. After valuation notices are mailed, you have a limited period to ask questions or appeal. State rules set firm deadlines, commonly the later of April 15 or a set number of days after the notice. Always check the current instructions on the Jefferson County Assessor and the Colorado Division of Property Taxation to confirm this year’s dates.
Find your value and bill
You have several ways to review your information:
- Jefferson County Assessor parcel search. Look up market and assessed values, property characteristics, and any exemptions on file.
- Jefferson County Treasurer tax search or account portal. View your current tax statement, due dates, payment history, and make payments online.
- Your mailed tax statement. It includes your parcel number, assessed value, mill-levy breakdown, total taxes due, and due dates.
Tip: Save your parcel ID and set calendar reminders around statement delivery and due dates.
Paying and due dates
Your tax bill explains when payments are due and the methods accepted by the Treasurer. You can typically pay online, by mail, or in person. If you miss a deadline, the Treasurer applies penalties and interest, so pay attention to the exact dates on your statement. If you are unsure, confirm current due dates and late-payment rules on the Treasurer’s site before sending funds.
If you escrow taxes with your lender
Many homeowners pay property taxes through a mortgage escrow account. Your lender collects a monthly amount for taxes and insurance, then pays the county when due. Even if your lender pays from escrow, the legal responsibility remains with you as the owner.
Two things to watch:
- Escrow analysis changes. If taxes rise because of a new assessment or levy, your lender may increase your monthly escrow amount or request a one-time shortage payment after its annual analysis.
- Refunds after appeals. If you appeal and win a reduction, the refund generally goes to the party that paid the bill. When escrow paid, refunds typically go to your loan servicer, who must credit your escrow account or refund you according to mortgage servicing rules. Notify your servicer if you file an appeal so they can track any adjustments.
If you pay taxes directly, track due dates yourself and use the Treasurer’s accepted payment options. Late payments trigger penalties and interest.
Appeals and exemptions
If you disagree with your value or think you qualify for a tax program, there are clear steps to follow.
How to appeal your value
- Start with the Assessor. Request an informal review and share evidence such as recent comparable sales, an appraisal, or property condition details that affect value.
- If unresolved, file a formal appeal with the Jefferson County Board of Equalization. If needed, you can later appeal to the State Board of Assessment Appeals.
- Deadlines are set by state law and are strict. Confirm current timelines with the Assessor and Colorado’s Division of Property Taxation.
Exemptions, credits, and deferrals
Programs may be available through the Assessor or Treasurer for eligible property owners, such as veterans, disabled persons, or seniors. Options and criteria can change. Review the Jefferson County Assessor’s exemptions information and Colorado’s state resources to see what applies and how to apply.
Questions about your bill’s breakdown
If a taxing entity looks unfamiliar, like a new metropolitan district, compare your bill’s mill breakdown and contact the Treasurer’s office or the district directly for details. New special district levies should also appear in property records and seller disclosures when you buy.
Buyer and seller tips in Lakewood
A little preparation keeps tax surprises out of your closing.
Before you buy
- Get the parcel ID early and review the Assessor’s record for valuation trends and any exemptions.
- Ask the seller and your agent for recent tax bills and special district disclosures. Verify whether the property is in a metro or special district that adds mills.
- Confirm how taxes will be prorated in your purchase contract and final closing statement.
After you close
- Watch for your annual valuation notice from the Assessor and compare it to recent sales.
- Check the Treasurer’s site for your tax bill, due dates, and payment options. Set reminders or confirm your lender has set up escrow correctly.
- If you disagree with your value, start the informal review promptly and follow the county’s instructions for formal appeals if needed.
- Review your lender’s annual escrow analysis. If a tax appeal leads to a refund, confirm whether it will be credited to escrow or refunded to you.
Common mistakes to avoid
- Ignoring the appeal window. Missing the deadline can lock in an incorrect value for the year.
- Budgeting with outdated numbers. Assessment rates and mill levies can change. Check this year’s bill and the current state assessment rate.
- Overlooking special districts. Metro and special district mills can materially change your total tax.
- Assuming escrow covers everything. Verify your servicer’s payments posted and that your mailing address is correct with the county.
- Waiting to ask for help. If something looks off, contact the Assessor or Treasurer right away.
Get local guidance
Property taxes touch your budget, your mortgage, and your long-term planning. If you want help reviewing a specific property’s tax profile or building a realistic monthly budget, reach out to Jesse Dixon for local, one-on-one guidance tailored to Lakewood and Jefferson County.
FAQs
How are Lakewood property taxes calculated?
- Taxes are based on your assessed value, which is market value multiplied by the state assessment rate, and the total mill levy for your parcel. The tax equals assessed value divided by 1,000 times total mills.
What is included in my Lakewood mill levy?
- Your levy often includes Jefferson County, the City of Lakewood if you are within city limits, your local school district, and any special districts, plus voter-approved bonds or overrides listed on your bill.
When are Jefferson County property taxes due?
- Due dates and acceptable payment methods are on your Treasurer’s statement and portal. Penalties and interest apply if you pay late, so confirm current deadlines with the Treasurer before you pay.
How do I appeal my assessed value in Jefferson County?
- Start with an informal review through the Assessor using evidence like recent comparable sales or an appraisal. If needed, file a formal appeal with the County Board of Equalization and follow state-set deadlines.
Do seniors or veterans get property tax relief in Lakewood?
- Certain exemptions, credits, or deferral programs may be available. Eligibility and rules can change. Review programs on the Jefferson County Assessor’s site and Colorado’s Division of Property Taxation pages.
How are property taxes handled at closing for buyers and sellers?
- Taxes are commonly prorated between buyer and seller according to the purchase contract and closing statement. Any unpaid past taxes are a lien on the property and are usually paid at closing.
