Colorado Property Tax Increase 2025. This new legislation will extend the property tax relief passed in 2023, ensuring that colorado homeowners won’t see an increase in their property taxes for 2024. Altogether, the new proposal would reduce property tax collections by an estimated $263 million in tax year 2023, $788 million in tax year 2024, and by more than $900 million in tax year.
This legislation provides a permanent solution to ensure coloradans are protected from future property tax spikes with a cap of 5.5% for most local property taxes. The reductions are in addition to larger rate cuts that were approved.