|
| |
Frequently asked questions
General information
Why is property taxed in Colorado?
Your tax dollars are used by local government to provide funding
for roads, schools, parks, fire protection, police protection,
health and other services.
What does my County Assessor do?
By law, your County Assessor is responsible for listing and
valuing property in a uniform and equal manner. The Assessor's
appraisal staff determines the appropriate value of your
property. The amount of property taxes you pay depends on the
budgets set by local government, special assessments and an
amount distributed to public schools.
What is the Assessor's Office required to do?
Pursuant to Colorado State General Property Tax Law, the
Assessor's Office is required to appraise all real property and
to determine prescribed equalization in assessments. The total
valuation of all property, as determined by the County Assessor,
is certified to the state and county and approved by the Colorado
Division of Property Taxation. Valuation of the various school
districts and of towns and incorporated districts are certified
to their respective boards.
After the levies are certified to the Assessor, it is then her
duty to extend the tax on all property assessed and direct the
County Treasurer to collect them.
What if I change my address?
It is the responsibility of the property owner to notify the
Assessor's Office of any change in mailing address. To protect
the taxpayer from an erroneous address change, the address used
by the Assessor's Office will not be changed without the property
owner's written consent.
For your convenience, you may download an
Address change form
from this site, complete and mail or FAX to
303-441-4996. Every year, hundreds of people don't
receive the notices we send because they have not kept us advised
of their changed addresses. Don't let this happen to you!
How do I estimate taxes on a new house?
Multiply the current purchase price by the current assessment
rate (7.96%). Multiply this answer by the mill levy in your area,
and move the decimal point 3 spaces to the left.
How do I determine the size of a subdivided lot?
Come into the office, and we will pull the subdivision plat to
look up this information. You can determine a non-surveyed
approximation by using our online mapping tool,
E-Map.
What is the formula for calculating taxes?
Property taxes are calculated using the following formula.
Current Actual Value (Provided on Notice of Value) x Assessment
Rate* = Assessed Value
Assessed Value x Tax Rate (Mill Levy) = Estimated Property Tax
* Current Assessment Rate is 7.96% for residential properties and
29% for all other property.
The Colorado State Legislature adjusts the residential assessment
rate in reappraisal years.
Why did my taxes go up over 50% (for example) from last year?
The County Assessor's Office does not set taxes, but rather we
determine the current value of each and every property in the
county through the process of mass appraisal. Taxes are
determined by tax districts and/or the voters.
How can my value go up so much in one year?
Property is revalued in Colorado every two years. The changes in
the value of homes reflect market conditions in the county from
July 1, 2004 to June 30, 2006, adjusted forward in time to June
30, 2006, the last date of the appraisal period.
What if my valuation went up more than the market value increase?
Does this mean it is incorrect? What should I do?
If the valuation of your property seems higher than the market
value as of June 30, 2006, we encourage you to file an appeal
with the Assessor's Office. See
How to Appeal Your Property Assessment.
To what agencies are my property tax dollars allocated?
The property tax continues to be the major source of revenue for
local government. Property taxes are an important source of
revenue for local schools, libraries, fire protection, water and
sanitation, and law enforcement.
The current distribution of the Boulder County property tax
dollar is: 52% to Schools, 30% to the County, 11% to Cities, 7%
to Special Districts.
Who sets the tax rate or mill levy?
Tax rates (mill levies) are determined by each taxing authority
(County, City, School District, Fire Department, Water and
Sanitation District, and Recreation District) in the fall of each
year. These authorities provide services to you and are listed on
your last tax notice.
Amendment I, known as the Tabor Amendment approved by the voters
in 1992, restricts the ability of taxing authorities to raise tax
rates or revenue without voter approval. Some tax authorities
have chosen to provide temporary tax credits, which allows the
tax district to maintain its official mill levy and not exceed
revenue limits.
Are tax relief programs available for seniors or disabled
individuals?
Yes. Senior citizens and property owners who are disabled may
qualify for a property tax credit on their Colorado income
tax, or may be eligible for property tax deferral. Please
check the index on this website , or call us at
303-441-4830 for more information on the tax
exemption program or contact the County Treasurer for information
about tax deferral programs at 303-441-3520.
Where can I find additional information?
Your County Assessor can answer questions regarding
classification and valuation of your property. Your County
Treasurer can answer questions regarding the billing and payment
of tax.
The Boulder County Assessor's website provides guidelines, forms,
procedures and other assessment and property tax-related
information.
You may contact the Assessor by phone at
303-441-4830. The County Treasurer's phone number is
303-441-3520.
How is property valued?
How does the Assessor determine market value of homes?
We use sales in the area, from the 24-month period ending
June 30, 2006, comparing similar properties. If an area
does not have many sales over the 24-month period, we may
include sales as far back as five years.
How does my county appraiser determine market value?
The appraiser looks at the age, quality, location,
condition, style and size of the property. The appraiser
then uses one or more of the following three methods to
appraise property at market value.
Residential property
The market approach
Sales of similar property are compared to each other.
The appraiser then adjusts for differences (for
example, one building may have more square footage
than another).
Commercial/industrial property
The market approach
Sales of similar property are compared to each other.
The appraiser then adjusts for differences (for
example, one building may have more square footage
than another).
The cost approach
The cost to replace your property is adjusted for age
and condition. This approach works well for new and
unique properties.
The income approach
In general terms, income from rent is used to value
property. This method works well for income producing
properties (for example, office buildings, medical
buildings and malls).
Why is vacant land and commercial assessed at 29%, and
residential at 7.96%?
The differences in assessment rates between residential
homes and other types of property is the result of an
amendment to the Colorado Constitution (known as the
Gallagher Amendment) approved by the voters in 1982, which
limited the residential share of the property taxes. The
State Legislature adjusts the residential assessment rate
each reappraisal year to keep the property tax burden from
shifting to residential property. This is the Gallagher
Amendment in action.
How can I verify the value on my property?
Market (sales) information is available for a 24-month
period, (from July 1, 2004 to June 30, 2006) on this
website in the
list of neighborhood sales.
This information is also available in the Assessor's
Office. A staff member can assist you in locating sales
information. Be sure to use sales from the current 24-month
sales study period. For non-residential properties,
construction cost and/or income data of comparable
properties can also be used to verify the accuracy of your
property value.
How does the Assessor establish the value of property?
The assessment date is January 1st of each year, for taxes
payable the following year. For residential properties, the
Assessor must determine actual market value. This is based
on style, size, amenities, location, etc., and then
compared to similar properties that have sold during an
eighteen month time span. Those sales nearest to the end of
the eighteen month period would be the most representative.
Keep in mind that residential properties can only be
valued by the market approach (due to the Tabor Amendment).
For most non-residential property, the Assessor considers
comparable sales information, construction cost,
depreciation, and the income approach to value.
How will I know what value the Assessor has placed on my
property?
The Assessor mails Notices of Valuation (NOV) to property
owners on May 1st. The NOV states the actual value for that
year.
How do I know the actual value the Assessor has on property I
own?
In May, a Notice of Valuation is mailed to property owners.
(THIS IS NOT A TAX BILL) The purpose of the notice is to
notify you of any change in your property valuation and
advise you of your right to appeal the new value. At any
time, you may look up your actual value on the Boulder
County Assessor's
Property Record Search
on our website. Or you may phone 303-441-4830
with your inquiry, or you may come to the Boulder County
Courthouse, 2nd floor, to look it up in person.
What are the factors used in determining value?
By law, the Assessor must consider a variety of market
based information in appraising different kinds of
property:
Vacant land
Sales of similar land taking place during the study period
adjusted for time and physical differences such as size,
topography and access to amenities.
Residential homes
Market sales of similar homes, taken from the current study
period adjusted for time and property differences such as
size, location, or age.
Commercial property
Market sales of similar commercial property; and market
based less depreciation plus the land value.
The Assessor's job is to analyze all pertinent information
and reconcile it into an accurate, fair estimate of
value.
If I bought my house within the last two years, shouldn't the
value be the same as what I paid for it?
One sale by itself does not determine market value. In
addition, inflation and other market conditions may affect
the market value of your home as of January 1. The price
you paid for your house is verified by the county appraiser
and then considered along with sales of similar
properties.
Where do I find my comparables?
Market (sales) information is available for the 24-month
period, (from July 1, 2004 to June 30, 2006) on this
website in the
list of neighborhood sales.
All sales of properties are recorded with the Clerk &
Recorder's Office. This information is then given to the
Assessor's Office. This data is public information and we
will gladly show you how to obtain the required
information. A Real Estate office is another good source
for information on sold properties.
How often do you re-value?
Colorado law requires all Assessors to reappraise all real
property, including land and improvements, every two years,
during odd-numbered years. Reappraisal is the review and
adjustment of property value to a different level of
value.
What is a "Sales Study Period?"
According to State Statute, the Assessor is required to
gather and confirm sales within the 24-month period ending
on the June 30th of the year prior to a reappraisal year,
time adjusting each sale to the June 30th ending date. This
data-gathering period is referred to as the Sales Study
Period. The study period for the 2007 reappraisal was from
July 1, 2004 through June 30, 2006.
How is actual square footage determined?
The Assessor's Office uses exterior measurements of homes
and buildings. This may cause the Assessor's estimate of
square footage to differ from that estimated by the builder
or Realtor since they frequently use interior measurements.
The valuation procedures used by the Assessor are adjusted
to account for the use of exterior measurements, which
helps to assure correct values.
My house wasn't complete on January 1. How was it
valued?
All property in Colorado is valued as it exists on January
1st of the current year. If a structure is not fully built
on that date a partial value reflecting the percentage of
completion is used.
My property doesn't compare to the expensive home down the
street that just sold. Are you valuing my property based on that
property?
Although location is very important in the valuation of
real estate, it is not the only factor. Other factors to be
considered in choosing good comparable sales are similarity
in size, quality, style, and condition of the residential
improvements. Therefore, other sales are also being
considered in the valuation of your property.
If the base year period is July 2002 - June 2004, how can you
say my home is 25% complete when they had not even broken ground
on my home back in June 2004?
The value shown on your Notice of Valuation is based on the
condition of the property as of the assessment date of
January 1, 2007, not as it existed on June 30, 2006.
Therefore, if the structures being built on the property
were in a 25% complete stage as of January 1, 2007, the
property is considered 25% complete for 2007.
But my house wasn't built on 6/30/04. Your assessment is
based on its status of your property as of January 1, 2007,
and valued according to what it would have been worth on
June 30, 2006.
Apartments are always sold based on the income they generate.
So why don't you value apartments this way?
The Colorado Apartment Owners Association successfully
lobbied to prohibit the use of the income approach for the
assessment of income producing residential property when
the constitution was amended in 1982. We are able to use
only the market approach to value all residential
properties, including apartments.
The square footage you list for my house is different from
what the building plans indicate. Why is that?
Real estate appraisers measure residences from the outside,
so the square footage of areas include the thickness of
exterior walls. In taking these measurements, our office
rounds to the nearest foot (for example, if a wall measures
18' 6", it is rounded down to 18'; but if it measures 18'
8", it is rounded up to 19'), so sometimes the rounding
will cause a difference in listed square footage. In other
cases, building plans may list only the area
inside the exterior walls as living area, so
that can account for differences of several hundred square
feet when compared to areas based on including the exterior
walls.
If I maintain my residence in good condition, will I have to
pay more in property taxes?
Assessments for residences, according to state law, are
based on the market value of properties. If a well
maintained property will sell for more than a similar,
poorly maintained property, then it is possible that the
property taxes for the better maintained property may be
higher.
What is mountain land selling for per acre?
There is no "per acre" price in the mountains. The value of
mountain land partially depends on how many acres are being
purchased (typically the more acreage bought, the cheaper
the "per acre" price). But additionally, it depends on each
site's view (greatly affects "per acre" price), access,
privacy, southern exposure, topography, etc. Every mountain
property is unique due to these aspects, so there is
no "per acre" value for mountain
properties.
You have changed my zoning from farm to single family. Does
that mean I can no longer keep farm animals on my property?
We are showing the current "use" of your property as single
family. Our office does not change or set the zoning for a
property. If you have questions about how your property is
zoned, contact the Boulder County Land Use Department or
the planning department of the city in which your property
is located.
I would like to get my property classified as agricultural.
What are the requirements?
The Agricultural Classification is for those properties
engaged in farming or ranching for the primary purpose of
obtaining a monetary profit. For a farm, the land must be
used to produce agricultural products. For a ranch, the
land must be used for grazing livestock, and the livestock
must be used for: food for human or animal consumption,
breeding, draft, or profit. Pleasure horses and horse
boarding operations do not qualify for the Agricultural
Classification. Additionally, the property must have a
two-year prior history of a qualifying agricultural use,
and income documentation (IRS 1040 F forms, receipts, lease
agreements, etc.) for those prior years must be provided.
Download a copy of the
Agricultural Land Classification Questionnaire.
How do I estimate my property taxes?
The actual value of your property, as set by the Assessor, is
multiplied by the assessment rate (7.96% for residences, 29% for
all other property). The resulting figure is the assessed value.
Multiply the assessed value by the mill levy to determine the
property taxes:
ACTUAL VALUE X ASSESSMENT RATE X MILL LEVY = ESTIMATED PROPERTY
TAXES.
The assessment rate is set by the State Legislature. Mill levies
are set each year by taxing authorities. The mill levy determines
the amount of each tax bill that goes to schools, fire districts,
water and sanitation districts, governmental agencies, and other
special districts. Each tax district has a different mill levy.
The following example of computing taxes is based on a
hypothetical assessment rate and mill levy.
Residential property
$250,000 X .0796 = $19,900 X .070 = $1,393.00
Non-residential property
$250,000 X .29 = $72,500 X .070 = $5,075.00
How does the TABOR Amendment affect my valuation?
The Tabor amendment limits budget increases of the taxing
entities, such as the cities and the school district. The Tabor
amendment does not affect valuation, which is based on the market
price of properties.
Appealing your property value
If I disagree with the Assessor's valuation of my property, what
should I do?
Property owners can appeal the Assessor's valuation of their
property between May 1st and June 1st of each year. You may
appeal your assessment in writing or in person by scheduling a
hearing with an appraiser. See the
assessment appeals
section of this web site for guidelines on how to appeal your
assessment.
What if I disagree with the total actual value of the
property?
You would fill out the
online appeal
form on this website or the real property appeal form on your
Notice of Valuation (also available on this website) or you may
contact the Assessor's Office in writing. Keep in mind that
residential properties can only be valued by the
market approach. You should inform the Assessor what you believe
the value of your property to be along with three comparables or
like properties supporting that value.
I agree with the total actual value, but I'm afraid my taxes will
go up accordingly. Should I appeal my value because I feel my taxes
will increase?
NO! The assessment rate is set by the State Legislature. Mill
levies are set each year by taxing authorities. The mill levy
determines amounts of each tax bill that goes to schools, fire
districts, water and sanitation districts, governmental agencies,
and other special districts. Each tax district differs, the
following example of computing taxes is based on a hypothetical
assessment rate and mill levy.
Residential property
$250,000 X .0796 = $19,900 X .070 = $1,393.00
Non-residential property
$250,000 X .29 = $72,500 X .070 = $5,075.00
Why did my value increase when I have not done anything to improve
my property?
The word "improvements" on your Notice of Value refers to the
buildings on your land. Though you may have changed nothing about
your home, the market value of your home in Boulder County may
still be increasing.
The comparables you list are nothing like my house. There are no
properties anywhere that compare to my house.
You are welcome to review the
list of neighborhood sales
on this website, where the complete listing of all sales of
properties in your neighborhood during the appraisal period (July
1, 2004 to June 30, 2006) are listed. Characteristics of the sold
properties are listed, which you may compare with your own
property. This information is also available at the Assessor's
Office on the 2nd floor of the Boulder County Courthouse, 1325
Pearl Street, in downtown Boulder.
When should I appeal my total value?
Notices of Valuation are mailed May 1. Please read the notice
carefully. There are specific dates for mailing your appeal or
for hand delivery of your appeal. This will allow for any
adjustments, if needed, that can be made before the tax bill is
sent to you. Contact your County Assessor at this time. Don't
wait until you receive your tax bill the following January!
Procedures for appealing your assessment are provided in the
How to Appeal Your Property Assessment
guidelines on this website.
What happens after I appeal?
The Boulder County Assessor's Office has elected to use the
extended appeal period calendar this year. We will review your
appeal and respond to you in writing by the end of August with a
Notice of Determination (NOD). If you are not satisfied with the
Assessor's determination, you may make a written appeal on or
before September 15th to the Boulder County Board of Equalization
(CBOE). Guidelines for appealing the Assessor's determination to
the CBOE are provided in the
How to Appeal Your Property Assessment
guidelines on this website.
Is the month of May the only time I can appeal a valuation?
No. The Assessor's Office is open Monday through Friday, 8:00
a.m. to 5:00 p.m. to answer your questions and to ensure that all
valuations are fair. However, to preserve your legal right to
appeal a decision of the Assessor's to the County Board of
Equalization, you must first make a formal appeal, in person, by
e-mail, by fax, or in writing, to the Assessor by June 1.
Remember, the Assessor's goal is to value your property as
accurately as possible. As a property owner, your participation
in this process is encouraged.
What's the taxpayers responsibility?
If the Notice of Valuation reflects a value you disagree with or
if you have questions about the valuation, contact your County
Assessor. If you do not receive a Notice you must call our office
or you may lose you rights to further appeal. Do not wait until
you receive your tax bill next January.
If you are dissatisfied with the County Board of Equalization's
Decision
You may appeal to the Board of Assessment Appeals (BAA), to the
County Commissioners for binding arbitration, or the District
Court of the county in which the property is located. You must
appeal within 30 days of the County Board of Equalization's
decision. Your determination for the County Board of Equalization
will include procedures to file for arbitration, a BAA hearing,
or District Court.
If you are dissatisfied with the decision of the Board of
Assessment Appeals or District Court
You can appeal to the Court of Appeals within 30 days of the
Board of Assessment Appeals decision or 45 days of a District
Court decision.
What about decisions reached through the arbitration process?
Decisions reached through the arbitration procedure are final and
not subject to review.
How can I determine if the appraisal of my home is accurate?
You can visit the county Assessor's office to review information
on similar properties and verify that the information the
Assessor has on your home is correct. If a neighbor has a similar
house which recently sold, the sale price may also give you an
indication of the value of your house.
What should I expect at the informal meeting?
During the meeting, the appraiser will explain how the appraised
value was determined for your property from the market. During or
before the meeting, review the record on your property to be sure
all the information such as age, style and size is correct. You
may also want to identify and review information the Assessor's
office has on properties comparable to your own and sales of
comparable properties. After your meeting the appraiser will
review all the information and send you a Notice of Determination
by the last working day in August.
Please remember that the County Assessor is required to appraise
property in an uniform and equal manner and should not be
considered an adversary. The county does not receive more money
by raising property values.
Ownership issues
Who pays the taxes due on property I sold or purchased?
Real property tax is the responsibility of the owner of
record January 1st of each year.
Private contracts between buyer and seller will often
specify who pays the taxes or the proration is completed at
the closing with the title company.
How do I change my name or add a name, or take a name off the
ownership of my property?
A new deed must be recorded in the Clerk and Recorder's
Office, 1750 33rd St., in Boulder.
What is the difference between a Quitclaim Deed and a
Warranty Deed?
Quitclaim deed
Is a form of property conveyance in which any interest the
seller possesses in the property described in the deed is
conveyed to the buyer without warranty of title.
Warranty deed
Conveys to the buyer title to the property free and clear
of all encumbrances, except those specifically set forth in
the deed.
How do I change title on my property?
The title on property can be changed via a recorded deed.
The Assessor's Office is an "office of record," which means
changes in ownership or property boundaries are done based
on recorded deeds, surveys, subdivision plats, and other
documents pertaining to ownership. Deeds must be recorded
at the Clerk and Recorder's Office before the Assessor's
records can be modified to reflect any changes.
Where is the Clerk and Recorder's Office?
Should I bring you a copy of the recorded deed?
It isn't necessary to bring us a copy of the recorded deed.
The Assessor's Office accesses all recorded documents from
the Clerk and Recorder's Office that concern ownership
changes.
How can I correct the acreage on my property
description?
The acreage on the property description is determined by a
recorded deed, certified survey (which corresponds to a
recorded deed), or a recorded subdivision map.
Can you help me with a property boundary line dispute between
myself and my neighbor?
The Assessor's Office doesn't resolve property boundary
disputes. If necessary, you may want to seek legal
counsel.
Last updated:
Wednesday, December 03, 2008 09:34 AM
|
