Skip to main content

Paying property taxes is part of owning a home. In Colorado, every other year in the odd years our values get reassessed for tax purposes. So this year being 2023 and an odd year (2015, 2017, 2019, 2021, 2023… you get the idea) our property values were all reassessed. While we always want the value of our homes to go up and it’s great to see, sometimes that can come at a price. And if you own property in Colorado, you know that property taxes can be a significant expense and it’s no secret that values skyrocketed over the last few years.

Devin and I have received many calls, texts and emails since the assessors started sending these out on May 1st. Why? Because some of the values coming out are INSANE to say the least! So, what can you do if you believe that the assessed value of your property is too high?

You can go through the appeal process… Let’s take a look at what you need to know:

How property tax valuations work in Colorado

In Colorado, property tax valuations are determined by the county assessor’s office. The assessor’s office uses a variety of methods to determine the value of your property, including recent sales of similar properties in your area, the size and condition of your property, and any improvements that you have made. The assessed value of your property is then multiplied by the current mill levy rate to determine your property tax bill.

While the valuation process is supposed to be designed to be fair and consistent, mistakes can and do happen. If you believe that the assessed value of your property is too high, keep reading!

How to appeal a property tax valuation in Colorado

To appeal a property tax valuation in Colorado, you’ll need to follow a specific process. Here are the steps you should take in most counties:

  1. Review your property valuation notice: If you haven’t already received it, you will soon! Starting on May 1st, the counties started updating their records and sending homeowners their valuation notices. Review the notice carefully to make sure that all of the information is correct. Check the square footage on record. Also take a look at bedroom count, bathroom count, use, etc.
  2. Gather evidence: If you believe that the assessed value of your property is too high, you’ll need to gather evidence to support your claim before attempting to have your value lowered. This might include recent sales of similar properties in your area, appraisals, or other documentation. This is where we come in. Call us/ text us and ask for a CMA (Comparative Market Analysis) or simply click here and fill the information in. The CMA will highlight all of the recent sales of similar properties in your neighborhood and provide evidence of value.
  3. File an appeal: To file an appeal, you’ll need to submit a written protest to the county assessor’s office. The protest must be filed no later than June 8th. But don’t wait! The sooner you jump on this, the better! The protest should include your name and address along with a description of the property, and the reasons why you believe the assessed value is too high. You should also include any supporting documentation.
  4. Attend a hearing: After you file your protest, the county assessor’s office will schedule a hearing. You’ll have the opportunity to present your evidence and argue your case. The hearing will be conducted by a hearing officer, who will make a recommendation to the county board of equalization.
  5. Receive a decision: The county board of equalization will review the hearing officer’s recommendation and make a final decision. If you’re not satisfied with the decision, you may be able to appeal further to the state board of assessment appeals.
  6. If you absolutely know you’re right and you have the evidence to support it, don’t back down!! Even if you’re declined initially, there’s a path for you take.

Here are some useful links to help get you started in your appeal:

Arapahoe County

Douglas County

Jefferson County

Adams County

Elbert County

Denver County

Broomfield County

Weld County

Boulder County

Conclusion

If you own property in Colorado, it’s important to understand how property tax valuations work and how to appeal them if necessary. While the process can be time-consuming, it’s worth it if you believe that the assessed value of your property is too high. By following the steps outlined above, you can make sure that your property taxes are fair and accurate.

Questions? We’re here to help! Kevin Capra – The Capney Collection – Powered by Compass – 303.809.5515 or email us at Kevin.Capra@Compass.com

Your Colorado Real Estate Expert