2013 is a Reappraisal Year for Colorado Assessors

WHAT DOES THAT MEAN?

You should have received a new assessor’s value on your property by May 1st 2013.  The new assessor’s value reflects:

  1. How the property physically existed as of January 1, 2013
  2. The appraisal valuation date is June 30th 2013
  3. The value is developed using sales from 1/1/2012 – 6/30/2012 (Could go back further in time depending upon your county)

HOW DO I KNOW IF I SHOULD PROTEST?

Remember you cannot protest your taxes, only your value.

What do you think the property was worth as of June 30th 2012?

  • If your opinion of value is less than the assessor’s value then you should consider protesting.
  • You must be able to support that value using sales comparables from 1/1/20122 – 6/30/2012.  Make sure you look at time trending those sales as they go back further in time from the 6/30/2012 appraisal date.  You may also support a change in value if the assessor does not have your property characteristics correct.  Example: Assessor says you have a 4 bedroom and you only have a 3 bedroom.

WHAT IS THE TIME LINE FOR ME TO PROTEST?

May 1st – May 30th.  You may protest online, via fax, in person or by mail depending on the county.

WHEN WILL I HEAR BACK FROM THE COUNTY?

The assessor will make a decision and mail a Notice of Determination to you before the last working day in August.

WHAT ARE MY OPTIONS IF I DON’T AGREE WITH THE COUNTY’S DETERMINTAION?

You can file a written appeal with the County Board of Equalization (CBOE) on or before September 15th 2013.

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Posted in Real Estate.

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