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As residents living in hazard-prone areas face on-going environmental threats, the actions they take to mitigate such risks are likely motivated by various factors. Whereas risk perception has been considered a key determinant of related behavioral responses, little is known about how risk mitigation actions influence subsequent perceived risk. In other words, do actions to prevent or mitigate risk reduce risk perception? This longitudinal study considers the dynamic relationships between risk perception and risk-mitigating behavior in the context of forest disturbance in north-central Colorado. Based on panel survey data collected in 2007 and 2018, the results provide a first look at changes in perceived forest risks as they relate to individual and community actions in response to an extensive mountain pine beetle outbreak. Analysis revealed that the perception of direct forest risks (forest fire and falling trees) increased, whereas indirect forest risk perception (concern on broader threats to local community) decreased across the two study phases. Higher individual or community activeness (level of actions) was associated with subsequent reductions in perceived forest fire risk, smaller increases in direct risk perception, and larger decreases in indirect risk perception. These findings contribute insights into the complex risk reappraisal process in forest hazard contexts, with direct implications for risk communication and management strategies.