This corresponds to just under 4.6 billion Norwegian kroner. The forest fire is the worst in the state ever and affected an area of 24 square kilometers.
Authorities previously estimated that at least 991 homes and other buildings were destroyed, but the number was raised Thursday after further review of the suburban area between the cities of Denver and Boulder.
Two people are missing, and remains of remains have been found in one place.
Efforts are still being made to determine what started the forest fire, which devastated entire neighborhoods and forced thousands to flee. The inferno erupted after months of drought, and the flames spread rapidly in dry grasslands in the area at the foot of Colorado’s section of the Rocky Mountains.
Researchers say that similar incidents will become more common when the globe gets warmer at the same time as the suburbs grow into forest fire-prone areas. As much as 90 percent of Boulder County has been hit by severe or extreme drought, and there has been no significant rainfall there since this summer.