What to Know About Colorado’s Property Tax Assessment Appeals Process

What to Know About Colorado’s Property Tax Assessment Appeals Process

Colorado's property tax assessment appeals process is an essential aspect for homeowners and property owners to understand. It allows taxpayers to dispute the assessed value of their property, which can significantly impact their tax liabilities. Here’s what you need to know about this process.

Understanding Property Assessment in Colorado

In Colorado, property tax assessments are conducted every two years. The county assessors are responsible for estimating the value of properties based on various factors such as location, property size, and market conditions. This assessed value serves as the basis for calculating property taxes.

Reasons to Appeal

There are several reasons why a property owner might consider filing an appeal. Common grounds for appealing a property tax assessment include:

  • Discrepancies between the assessed value and the market value.
  • Errors in property characteristics, such as square footage or number of bedrooms.
  • Comparisons with similar properties in the area that are assessed at lower values.

The Appeals Process

Filing a property tax assessment appeal in Colorado involves several key steps:

  1. Review Your Assessment Notice: When you receive your property tax assessment notice, review it carefully for any inaccuracies.
  2. Gather Evidence: Collect evidence to support your case, such as recent sales data of comparable properties, photographs, and descriptions of your property that argue against the assessed value.
  3. File the Appeal: Appeals must be filed with the county Board of Equalization (BOE) within a specified period, typically 30 days from the date on the assessment notice. You can usually submit appeals online or via mail.
  4. Attend the Hearing: If the BOE schedules a hearing, be prepared to present your evidence and argument. This is your chance to explain why your property's value should be reduced.
  5. Receive the Decision: After the hearing, the BOE will issue a decision. If you are dissatisfied with the outcome, you can appeal to the Colorado Board of Assessment Appeals or the district court.

Important Deadlines

It’s crucial to stay aware of deadlines throughout this process. The initial appeal must typically be submitted within 30 days of receiving your assessment notice. The deadlines for subsequent appeals can vary, so it's important to check with your local county office for specific dates.

Consider Professional Help

If the process seems overwhelming, consider seeking assistance from a real estate professional or a property tax consultant who specializes in assessment appeals. They can provide valuable guidance and may enhance your chances of a successful appeal.

Conclusion

Understanding Colorado's property tax assessment appeals process is vital for homeowners wanting to ensure they are not overpaying on their property taxes. By knowing your rights and the steps to take, you can effectively navigate the appeals process and potentially achieve a fair assessment of your property's value.