New Property Tax Assessments Coming Soon

In Colorado, property taxes are re-assessed every odd numbered year and in May you will receive an updated 2025 tax assessment which establishes the value of your property as of June 30, 2024. The study period for tracking values is July 1, 2022 to June 30, 2024. Property values in our market have have been flat to slightly down over the last few years. Statistically, the median value of single family homes in Boulder County during the study period was down -1.6% and the median value of condos & townhomes was down -1.7%. Hopefully you will not see an increase in your tax assessment, but the assessor loves to assess, so we'll have to wait and see.

The new tax valuation you'll receive is the starting point for calculating property tax over the next two years. If you think your assessment is inaccurate, you have until June 1st to appeal. In appealing your assessment, here are some Do's and Don'ts:

• Do make sure the assessor's objective information is accurate. Check the square footage, the number of bedrooms and the number of bathrooms. 

• Don't appeal based on the percentage of increase or simply state that the "value is too high".

• Do consider market value and feel free to check with me to find out if the assessor's valuation is accurate.

• Do provide evidence to back up your appeal such as comparable sales, photos and descriptions of issues that negatively impact your property.

Rising property taxes are the downside of the appreciation we experience over the long term in our market. Most of your property tax dollars fund public schools, which is a good thing, but if you feel the Boulder County tax assessor is trying to get too much of a good thing, I am happy to help with your appeal. Call or email me anytime to discuss.

Best, 

Rich