By Will Cornelius
The Surveyor

The Board of Commissioners for Larimer County held a special meeting on Jan. 10 to certify the mill levy rate for 2024. In a unanimous vote, all three commissioners approved a general mill levy rate of 21.571 mills. The rate has remained unchanged since 1992.

In Larimer County, assessed values on properties have increased by over $1.7 billion, or 25%. But Commissioner Jody Shadduck-McNally said that the majority of the increase in property tax revenue is needed “just to keep current services rolling because the costs have risen so much.”

Matthe Behunin, budget team lead for Larimer County said that of the increase in costs to maintain current services 75% was related to public safety.
The county commissioners did agree to a $5.5 million mill levy tax credit to ease the increased property tax burden many residents will experience this year.

“This comes out to about 0.632 mills,” per household Behunin clarified.

Commissioner Kristin Stephens understood that some residents wanted the county to give a larger tax break but cited future uncertainty with the state’s new property tax task force and potential ballot initiatives as countervailing reasons.

Behunin mentioned that most homeowners will have the option for a property tax deferral thanks to a new law passed by the state legislature in 2021. The law expanded eligibility for the state’s property tax deferral program to include homeowners of owner-occupied residences if their property taxes rose by 4% or more.

Deferring property taxes does not exempt them and a deferral will accrue interest over time. Applications for property tax deferral must be made between Jan. 1 and April 1 at colorado.propertytaxdeferral.com.