Property tax spikes could be higher than initially expected in Jefferson County and other Colorado counties

The Jefferson County Treasurer's Office says property taxes there could be even higher this year than residents were expecting. State officials in Colorado initially predicted an increase just shy of 30%. New data shows it may be closer to 40% or 50% in some areas.

This year's assessments are based on last year's property tax values, which skyrocketed for many residents.

Douglas County is warning residents of similar tax spikes that could be coming there, too.

Assessment letters are set to go out to homeonwers in May.

Scott Wasserman, president of the Bell Policy Center, a research and advocacy group, is among those who say it's time to look at long-term solutions. He says temporary fixes are costing those who benefit from the taxes.

"I think that this is an issue that whether you're Democrat or Republican you want people to be able to afford to stay in their homes," Wasserman said.

The Colorado Legislature has already lowered property assessment rates used to calculate taxes and made some shifts. If lawmakers are going to do more, they have about 19 days left in their legislative session to do so.

"In 2023 we have to have a different process than what we have right now where we are looking back a year," said Jefferson County Treasurer Jerry Ditullio.

"It's going to affect seniors. It's going to affect renters, small businesses who own the building or rent," he said.