What is a Mill Levy?
It is important to understand the terminology to fully understand the mill levy discussion. What do Mill Levy, Appraised Value, and Assessed Value mean?
The Mill Levy is how local governments collect money from property taxes to pay for essential services like police protection, code enforcement, park maintenance, and running recreation programs. A mill is a term that refers to $1 in tax for every $1,000 of a property’s assessed value.
The Appraised Value is what a home would likely sell for on the open market. It is determined by a licensed appraiser based on things like:
- The size and condition of your home.
- Location and neighborhood; and
- Recent sales of similar homes nearby.
Think of the appraised value as the estimated price tag if you are going to sell your house today.
The Assessed Value, on the other hand, is what Weld County uses to calculate property taxes. It is a percentage of the appraised value set by the State of Colorado – not a real estate appraiser.
| Term | What it Means | Who Uses It |
| Appraised Value | The market value of your home | Buyers, sellers, lenders |
| Assessed Value | The taxable portion of your home's value | County for property taxes |
City Property Tax for a $372,000 Residential Property in Evans
To calculate property taxes in Evans, use the basic formula:
Appraised Value x Assessment Ratio = Assessed Value x Mill Levy = Property Tax Obligation
Current City of Evans Residential Property Tax (3.536 mills)
| Appraised Value | $372,000 |
| Residential Assessment Ratio | 6.765% (as of 2024-2025 under Colorado law) |
| Mill Levy (current) | 3.536 mills |
- Assessed Value = $372,000 x 6.765% = $25,165.80
- City Property Tax = $25,165.80 x 0.003536 = $88.99/year1
Today, the owner of a residential property with an appraised value of $372,000 pays $88.99/year in city property taxes, which equates to $7.42/month for full city services.
[1] This represents the amount of property tax paid to the City of Evans only and does not include other taxing entities, including District 6, Weld County, Evans Fire Protection District, Aims Community College, High Plains Library District, and Northern Water.
City Property Tax for a $1,000,000 Commercial Property in Evans
To calculate the property tax obligation for a commercial property, the same formula is used as in the example for a residential property. However, rather than an assessment ratio of 6.765% for a residential property, a commercial property is assessed at a higher rate of 27%. The same assessment rate applies for industrial properties.
Current City of Evans Commercial Property Tax (3.536 mills)
| Appraised Value | $1,000,000 |
| Commercial Assessment Ratio | 27% |
| Mill Levy (Current) | 3.536 mills |
- Assessed Value = $1,000,000 x 27% = $270,000
- City Property Tax = $270,000 x 0.003536 = $954.72/year
Today, the owner of a commercial or industrial property with an appraised value of $1,000,000 pays $954.72/year in city property taxes, which equates to $79.56/month for full city services.
For questions regarding the City's consideration of a mill levy adjustment, please reach out to us at mill_levy@evanscolorado.gov.
Contact Us
1100 37th Street
Evans, Colorado 80620
Phone: 970-475-1170
Fax: 970-475-1190
Office hours (Monday to Friday): 8:00am – 5:00pm
Sign up to our Newsletter
Stay up to date on the city's activities, events, programs and operations by subscribing to our eNewsletters.