It’s that time again. All homeowners are receiving the notice of valuation from our respective counties that we reside in. Does yours seem a little high? While our housing market has been appreciating in recent years, sometimes the county appraiser makes a mistake and values homes too high, thus causing your property tax that you will owe to go up significantly. If you would like to protest, let’s set up a time to get together and review comparable sales to see if you have a good case to make. Also, below is a link for the local county websites to help you get started with the process and give you more information about how it works.
Larimer County: https://apps.larimer.org/assessor/protest/
Weld County: https://www.co.weld.co.us/apps1/assessor/appeal/
How does the county come up with the valuation of your home?
The county assessor looks at past sales in your area to come up with the valuation of your home. Every odd-numbered year they send out a notice that tells you what their valuation of your home is and what your new property tax amount will be. However, unlike in real estate, where we pull comparable sales from the last six months, they go back further in time. For example, for our 2019 valuations, the county assessor reviewed sales from June 30, 2018 and went back twenty-four months to June 30, 2016. Bear in mind, the county assessor looks at data from public records, they don’t go out to each home and compare them according to their specific location, views, amenities, finishes and other aspects that have an important impact on a home’s value. As such, there is the potential for error in their calculations. Your local county gives you the opportunity to protest their valuation of your home. They also give you a time limit in which to do so, usually giving you until June 1st or 3rd, depending on your county. In addition to information related to your property, they will want supporting evidence to establish why you think your property’s valuation is lower than what they assessed. This is where I can help you. I can pull comparable sales and look at the finer details to see which homes are good comps and then we can see if they justify you protesting the county’s valuation.
If you would like to protest, let’s talk and we can review your case. You can reach me at 970-313-6706 or send me an email at firstname.lastname@example.org.
About the author: Sean Gilliam is a Realtor® with RE/MAX Alliance in Northern Colorado. Sean can be reached at email@example.com or by phone at 970-313-6706. For additional articles see Sean’s blog or to search for properties see his web page.
Interested in buying a home or selling your current home? I am committed to your success. Give me a call at 970-313-6706 to get started.