Property Valuation
Under Colorado property tax assessment, residential properties are assessed at what percentage of actual (market) value?
A5.00%
B7.15%✓ Correct
C29.00%
D55.00%
Explanation
Colorado residential properties are assessed at 7.15% of their actual (market) value for property tax purposes. Commercial and other non-residential properties are assessed at 29% of actual value. The assessed value is multiplied by the mill levy to determine the tax.
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