Property Tax Protest!

Yes, it is that time of year again!  Did you receive your property notice of valuation in the mail?  Colorado is on a two-year reappraisal cycle, meaning all properties are re-valued every odd-numbered year.  When a property is reappraised by the Assessor's office, they estimate the market value as of the appraisal date, which is set by state statue as June 30 of the preceding year.  The appraisal date for the 2009 reappraisal is June 30, 2008.  Colorado law requires market value for residential property be established using sales from a specific time frame.  This time frame, know as the "study period" consists of the eighteen months prior to the appraisal date. 

Your Rights of Appeal

If you feel that your valuation is incorrect, we can assist with pulling sold comparable properties in your subdivision/area.  After reviewing the sold comps, during the "study period" you may appeal your real property valuation with the Assessor between May 1st and June 1st.  Many counties have the appeal process on line - or for Arapahoe County, the appeal form is included in your packet.  We provide you with all the sold property details to assist in this process.  In most cases the Assessor will make a decision on your appeal and mail a Notice of Determination to you on or before August 31st.  

 

How Residential Property Taxes Are Calculated

Property taxes are calculated by first multiplying the actual value of your property by the statewide residential assessment rate of 7.96% to arrive at the assessed value.  The assessed value is them nultiplied by the mill levy to arrive at the taxes due on your property.  The County Treasurer is responsible for mailing the tax bill and collection of taxes.  You will receive a tax bill from the Treasurer each year in January for the taxes due for the previous year.   

 

We Are Here to Help!

We can provide you with the comps to determine if your home/property has been assessed properly.  Send us a quick request, providing us with your full name and address.  We will research the sold properties from the MLS and provide them to you in a PDF format.   

 

Click here to request our assistance in your property tax protest!