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Average Property Tax Increase in Summit County – Homeowners Guide to Seeking Relief!

Average Property Tax Increase in Summit County, Colorado

Average Property Tax Increase in Summit County, Colorado. (PHOTO: Akron Beacon Journal)

Relief Programs Offered to Summit County Homeowners

Homeowners in Summit County, Colorado, got their average property tax bills and they’re higher because home values went up a lot according to the article of Summit Daily. The value of homes went up by an average property tax increase of 63% since 2021 and that led to property tax revenue going up by 30% in 2024. But how much taxes went up depends on where people live and the rules set by local groups that collect taxes.

READ ALSO: IRS Reports 29% Decrease In Average Tax Refunds For 2024: What You Need To Know

Exploring Changes in Property Tax Laws

One lets homeowners delay paying some of their property taxes but they have to pay them back later with interest. Another program gives discounts to seniors and veterans so they don’t have to pay taxes on part of their home’s value. These programs try to give people some help with their taxes. People are also talking about making bigger changes to how property taxes work. They might change how often they figure out how much homes are worth for taxes. They’re also looking at new laws that could give more help to homeowners especially those who rent out their homes to people who work. These ideas are meant to make property taxes less of a burden for people in Summit County.

READ ALSO: Capitol Hill As Tax Season Approaches: Brace For Stress!

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