04/02/2026
In Denver we’re now paying an additional $200-400 per year to pay for the new debt the Politicians created in November 2025.
The cost to a property owner for Denver’s general obligation bond debt is approximately $200 per year for a $500,000 home. The calculation for this is: $500,000 property value x 6% approximate assessment rate = $30,000 assessed value x 0.0065% = $195 per year.
People who rent pay property tax when they make the rent payment. Rent costs are going up $200 per year because of the new debt from Mayor Johnston and Denver City Council.
1. The order of events in the calculation of an annual residential real estate property tax bill:
a. The county assessor calculates an “estimated actual (market) value” every 2 years.
b. The state legislature sets an assessment rate, which is applied to the actual value.
c. The multiple individual mill levies are set by the various taxing authorities that exist where the property is located. A mill levy is the dollar amount owed per thousand dollars of assessed value.
2. In Denver, the various mill levies include:
a. Affordable Housing: 0.391000 (0.5% of the total levy and tax bill)
b. Capital Maintenance: 2.519000 (3.2%)
c. City Bond Fund: 6.500000 (8.2%) THIS IS WHERE WE, THE CITIZENS, PAY FOR THE VIBRANT, ELEVATE, RISE AND OTHER GENERAL OBLIGATION BOND DEBT
d. Denver Public Library: 1.517000 (1.9%)
e. Denver Public Schools: 52.311000 (66.0%)
f. Developmentally Disabled: 1.013000 (1.3%)
g. Fire Pension Fund: 0.977000 (1.2%)
h. General Fund Denver: 9.375000 (11.8%)
i. Police Pension Fund: 1.166000 (1.5%)
j. Social Services: 2.433000 (3.1%)
k. Urban Drainage & Flood Control: 1.000000 (1.3%)
l. Total: 79.202000 (100%)
3. Denver collects money in the City Bond Fund and then pays the debt repayment costs for the various outstanding debt/bonds/loans.
4. If Denver voters had rejected the VIBRANT bonds, the City Bond Fund eventually would have had a “surplus” in this account, as prior bonds were paid off/retired and new debt was not incurred/borrowed.
5. Surpluses could also be used to pay off early the various other general obligation bonds/debt.
6. Over time, Denver would need to lower the 6.5 mill levy in order to avoid holding a growing surplus. Denver property owners would see a reduction in annual property tax bills.