"Your clients describe your services as a
unique, special oasis in their lives and are universally
satisfied with your services. They describe
you in terms that are not used anywhere
in business today. You are selfless, honest,
hard working and you know your stuff. They
feel under supported in most ventures, however
the striking experience of someone working for
them is powerful."
56 Ninth Street
Steamboat Springs, CO 80487
Phone: (970) 870-8885
Toll Free: (877) 970-8885
Fax: (970) 870-8886 Email Us Today!
* Summary of client responses to the 2008 Brand Research Market
Study for Buyer’s Resource Real Estate of Steamboat, by Benya
Consulting.
May 19, 2013 Aprils Showers bring May flowers. This May also brings a new assessed value to your property. In Colorado all properties are reassessed every two years. The value of your property however is not as of May 1st 2013. That is simply when the new notices go out. The assessment period is from July 1, 2010 to June 30. 2012. If properties have seen a sudden increase or decrease in value since the end of June of last year, this won’t be reflected in this current tax assessment.
The new value of your property doesn't necessarily mean your property taxes will go up or down. Each year County Commissioners, School Boards and governing boards of special districts determine the revenue needed and allowed under law to provide the services for the following year. Each entity then calculates a tax rate based on the revenue needed from property tax. Here is an example:
Revenue needed from Property Tax: $1,398,000
_____________________ = .013980
Total Assessed Value: $1,000,000,000
or 13.980 Mills.
In the State of Colorado properties that are classified as residential are assessed at a rate of 7.69% of the properties actual value determined by the County Assessor using the market approach. If your property’s actual value is $275,000 you would first apply the 7.69% to determine the Assessed value of= $21,890. Now apply the mill levy of .013980 and your property tax for that year will be: $1,653.59.
Most other non-residential properties like commercial and bare land are assessed at 29% of actual value. That is why it is a good idea to have a plan to build if you are contemplating purchasing land.
Of course you have the right to appeal if you disagree with the value that the Assessor’s office determined for your property. Appeal forms are available at the Assessor’s office or just ask your friendly Exclusive Buyer’s Agent to obtain one for you. All appeals must be submitted by June 1, 2013. We here at Buyer’s Resource would be happy to help our clients by gathering sales data that might help in your appeal.
Buyer’s Resource of Steamboat
56 Ninth Street Steamboat Springs, CO 80487
Phone: (970) 870-8885
Toll Free: (877) 970-8885
