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Now’s a Great Time to Buy Real Estate in Denver
You’ve thought about it for some time now – buying property in Denver. The good news is, this is a great time to take advantage of historic low interest rates and desirable properties and add to your investment portfolio, or just find a new home. You might have some questions about the Denver area, wanting to know about costs and home values, plus what is there in Denver to do? Let’s answer some of those questions now.
What are property taxes like in Denver?
Taxes are calculated based on a formula and the value of the home. The “actual value” is the value placed on the home by the assessor’s office. Then, the assessment rate is applied to the home value, which for homes and apartment buildings is 7.96%, as compared to commercial businesses which are assessed at 29%. The actual tax rate is calculated based on the adjusted amount. In the 2012 tax year, this amount in Denver was $.084 per dollar of assessed value on the home. For a home valued at $250,000, the taxes based on the above figures would be $1,673.00.
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