39-5-121. Notice of valuation - legislative declaration
(1) (a) (I) No later than May 1 in each year, the assessor shall mail to each person who owns land or improvements a notice setting forth the valuation of such land or improvements.
Your property was valued as it existed on January 1 of the current year. The value of residential property is based on the market approach to value. Generally, the value of all other property is based on consideration of the market, cost, and income approaches to value. The appraisal data used to establish value is from the 18-month period ending June 30, 2018, § 39-1-104(10.2)(a), C.P.A. If insufficient data existed during the 18-month data gathering period, data from each preceding six-month period (up to a period of five years preceding June 30, 2018) may be utilized, § 39-1-104(10.2)(d), C.R.S.
“Improvements” are defined as all structures, buildings, fixtures, fences, and water rights erected upon or affixed to land, whether or not title to such land has been acquired.
Most property in Colorado is revalued every odd-numbered year, § 39-1-104(10.2)(a), C.R.S.
To Appeal or Not To Appeal…that is the question.
If you have found a discrepancy in the Assessor's records, please let our office know. Correct and complete assessment records are the first step in assuring that the value placed on your property is correct.
While an informal review is not necessary to appeal your property value, it can be beneficial in avoiding an Appeal.
Should you wish to speak directly with a member of the Assessor's appraisal staff regarding your value, please feel free to phone our office at (303) 621-3101. Please keep in mind that this office experiences heavy call volume during the appeals process. This can result in longer wait times so we appreciate your patience. I can assure you that we will make every attempt to answer all calls timely, each call we receive is given as much time as necessary to answer all questions.
The purpose of an informal review should be:
- to verify the information on your property record;
- to ensure your understanding how your value was estimated;
- to discover whether you qualify for any exemptions; and
- to be sure you understand how to file an Appeal.
The staff-member conducting the meeting will review your property records with you and give you information about comparable properties. We encourage you to present any information you have gathered.
A commitment to a change in value or classification may not be made at this time, even though you may have uncovered an error. It is possible that a staff appraiser needs to visit your property to determine whether discrepancies or changes to the property warrant a value or classification change. It is also possible that a decision regarding a change may require further research, or documentation may be requested (photos, formal appraisals, etc.)
After reviewing your inventory, comparing like-properties and reviewing sales, you still feel that your property value is incorrect, an Appeal may be in order.
Should you choose to Appeal in writing, the back of your Notice of Valuation (NOV) is the official Appeal Form.
Please be as clear as possible in stating the reasons you feel your property value or classification is incorrect.
IMPORTANT: ALL documentation must be surrendered at the time you file your Appeal!
An Assessment Appeal isn't a complaint about higher taxes. It is an attempt to prove that the estimated market value placed on your property is either inaccurate or unfair. You will not win an appeal because you think your taxes are too high!
REAL PROPERTY APPEAL PROCEDURES
Appeal period: May 1 through June 1
BY MAIL: If you wish to appeal in writing, please include your estimate of property value as of June 30, 2018, and any additional documentation that you believe supports a change in the classification and/or valuation of your property. Written protests must be postmarked no later than June 1,
§ 39-5-122(2), C.R.S. You may be required to prove that you mailed your protest on or before the June 1 deadline; therefore, we recommend that you retain proof of mailing.
IN PERSON: If you wish to appeal in person, present to the Assessor’s office your estimate of property value as of June 30, 2018, and a copy of any documentation that you believe supports a change in the classification and/or valuation of your property. You must appear in the office of the County Assessor no later than June 1, § 39-5-122(2), C.R.S.
ONLINE: If you wish to appeal online, please go to the Assessor's home page and follow the "Appeal Online Process" application form and include your supporting documentation and your estimate of value as of June 30, 2018
To preserve your appeal rights, your protest must be either postmarked or received by the Assessor no later than June 1 – after such date, your right to protest is lost.
The Assessor must mail you a Notice of Determination on or before the last working day in June. If you disagree with the Assessor’s determination, or if you do not receive a Notice of Determination, you must submit a written appeal to the County Board of Equalization on or before July 15 if you wish to continue your appeal, § 39-8-106(1)(a) and (3), C.R.S.
After Your Appeal Has Been Received
There is no presumption in favor of the Assessor's value being correct, therefore, the Assessor and taxpayer are on an equal playing field. (1992 Tabor 8c)
The Assessor will review your Appeal, research comparable properties, make a decision as to whether your property value is correct, and mail a Notice of Determination (NOD) to you by the last regular working day in June. If you are content with the value listed on the NOD, the Appeal process ends here.
If, however, you are not satisfied with the Assessor's decision, you may Appeal to the County Board of Equalization (CBOE). This information is also included on the reverse side of your NOD.
The CBOE will then render a decision. If you are now satisfied, the process ends there. (NOTE: Supporting documentation must be submitted at each level of Appeal.)
If you are dissatisfied with the CBOE decision, you have three (3) options:
- You may Appeal to the Board of Assessment Appeals (BAA);
- You may go to District Court; or
- You may go to Binding Arbitration.
If you are satisfied with the decision rendered by either the BAA or District Court, the process ends there.
If however, you are not satisfied with the decision made by either the BAA or District Court, you may continue on to the Court of Appeals and beyond that, to the Supreme Court.
Decisions reached through Arbitration are final and not subject to review.