Additional voter approved mills for WPS will require residential and commercial property owners to pay an additional tax based on assessed valuation. For example:
- A $100,000 residential property (actual value) has an assessed value of $7,200. The additional annual property tax for voter approved 14.35 mills is 7,200 x .01435 = $103.32 or $8.61 per month.
- Note: the percentage of assessed value to actual value is determined by Colorado law and varies for residential and commercial property. Property taxes are applied to 8% of a residential property’s actual value and 29% of a commercial property’s actual value.
The proposed General Fund levies are estimated to cost a homeowner approximately $8.61 per month per $100,000 of assessed market value. The district’s taxable valuation has more than doubled over the past 10 years. If the district’s taxable valuation continues to grow, that amount levied on individual taxpayers will likely decrease.
Please note: This is a conservative estimate of the tax impact. The calculations will change annually due to new property and the ongoing property reappraisal process by the State.