How is my property value determined?
Values are determined by comparing your property with properties that are similar in location, design, size, age, and amenities. Comparable sales that occurred in the appraisal data collection period, typically between January 1, 2021, and June 30, 2022, are to be considered. If there is insufficient data, the assessor may consider sales within the 5-year period ending June 30, 2022, by going back in 6-month increments to obtain adequate comparable valuation data; however, this data must be time trended to the June 30, 2022 appraisal date. This is known as the Sales Comparison Approach. For non-residential property, the cost and the income approaches to value are also considered.
How are property taxes calculated?
(Actual value) x (assessment rate) x (mill levy) / 1,000 = tax dollars
2023 Assessment Rates:
- Residential and Multi-family property 6.765%
- Renewable energy & Agricultural Property 26.4%
- Commercial, Industrial, Personal property, Possessory Interests, & Vacant Land 27.9%
- Oil and Gas production 87.5%
2023 Valuation Adjustments per SB 22-238:
- Residential -$15,000 from Market value as long as value is above $29,790.
- Commercial -$30,000 from Market value as long as value is above $33,590.
Example: (Please note this is only an example – your value and mill levy may be different.)
$450,000 (actual value)
– $15,000 (value reduction residential property)
x .06765 (residential assessment rate)
x 95 (mill levy) / 1000
= $2,796 (tax dollars)
Who sets the mill levy?
Each individual taxing entity, such as a school, county, city, fire department, water and sanitation district, and recreation district sets its own mill levy and are listed on your tax notice.
Can you appeal your property taxes to the assessor?
No. Per C.R.S 39-5-121 (1), you may only appeal your property’s actual value or classification. Objections to the level of taxation must be taken to the taxing entities (see question above). Colorado provides tax deferrals and rebates for elderly and disabled residents. For information on these programs call 970-945-9134 and ask for a brochure.
Doesn’t the TABOR Amendment of 1992 prevent my taxes from rising?
No. The TABOR Amendment (Amendment I of 1992) controls the amount that state and local governments can collect and spend. It does not limit the rate of increase of an individual tax bill.
Why don’t all properties increase or decrease by the same percentage?
Some people believe the previous (2021/2022) values are simply multiplied by an inflation factor, but in a reappraisal, all of the sales data from the relevant time frame (July 1, 2020 through June 30, 2022) is considered. Using mass appraisal techniques, along with this data, numerous market models are developed within the county. These market models will reflect the increased, stable, or decreased activity of those properties.
If I do not agree with the actual value, what steps should I take?
- Contact us in person at the Assessor’s office. We are open from 8-5, Monday through Friday. We are located at 109 8th St., Suite 207, in Glenwood Springs.
- Send the appeal documents to us in the mail or by fax. Our fax number is 970-945-3953. Fill out the instructions on the form. All appeals must be signed, dated and include an estimate of market value.
- Email an appeal to us at email@example.com. Be sure to include your reason for appealing, your account number, and an estimate of market value.
- By Phone at 970-945-9134. Please note, if you phone the office, you will be asked to provide a signed appeal form before the appeal can be processed.
- You may appeal online from May 1 – 5:00 PM on June 8th, if you meet all of the following criteria:
- You are the owner of the property – agents may not appeal online.
- The property has a residential use
- You have no attachments included with your online appeal
If one of the above is not true, you may not appeal online.
- You may also set up a Microsoft teams meeting with one of our appraisers. Call the office at 970945-9134 to set up a meeting.
- This meeting time will be used to answer questions.
- The appraiser will explain valuation methodology.
- The appraiser will listen to owner/agent opinions and gather information.
- This meeting does not constitute filing an appeal. You must still fill out the appeal form the deliver it to the office no later than June 8, 2023.
It is important to remember that if you choose to appeal the assessor’s value, you should provide pertinent information supporting your estimate of value. If you appoint an agent to act on your behalf, that person needs your written authorization.
When is the best time to come in?
The first week of May. The busiest time will be the last week before the deadline. You must appeal your value to the Assessor between May 2, 2023 and June 8, 2023.
I’m not sure if I should appeal or not. How can I find out the sale prices of properties in my neighborhood for the 18-month period prior to June 30, 2022?
- Call the Assessor’s office at 970-945-9134. The appraiser from your area will be happy to speak with you about your value and the sales data used to arrive at that value.
- Seek information from a local real estate professional. They may be able to help provide you with comparable arm’s length transactions between July 1, 2020 and June 30, 2022.
- The comparable sales that were used to value all of Garfield County are located on the Reports web page.
If my house wasn’t complete in June 2022, shouldn’t it be valued at “zero?”
No. The assessor is required to value and classify each property as it existed on January 1 of the current year.
What happens after I appeal?
The assessor’s office will review all appeals and respond by letter by the end of June. In some cases, assessor personnel might need to make a physical inspection of the property. If you are dissatisfied with the assessor’s response, you may appeal to the County Board of Equalization in writing on or before July 17, 2023 (c/o Mary Lynn Stevens, 108 8th Street, Suite 219, Glenwood Springs, CO 81601).
Senior property tax exemption
Colorado voters passed a Property Tax Exemption for Seniors in the November 2000 election (also known as Referendum A). The law provides that 50% of the first $200,000 of actual value for a qualifying senior citizen’s primary residence shall be exempt from property taxation.
In November of 2022, Colorado Voters passed a ballot measure to extend the exemption to surviving spouses of a “Gold Star Veteran” who died in the line of duty and veterans who died as a result of a service related injury of disease.
Please see Senior and Veteran Exemptions for more information on these programs