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.

One of my very favorite things about Steamboat is the change of Seasons and we have four very distinct ones. As much as I like the summer, fall has to be my favorite time of year in the Yampa Valley. The fall of 2012 will be remembered as one of my all-time best. We woke up almost every morning to crystal blue skies without a whisper of a breeze. A temperature in the 70’s almost every day and with virtually no moisture. Of course we had a couple of days of cloudy, colder weather but that is always just Mother Nature’s way of warning us that winter is on its way and we better get ready.
As I watch our first significant snowfall begin to stick to the windshields and grass I chuckle because just two days ago I was in shorts playing my last round of golf in the valley. Of course we could always experience an Indian summer forcing me to pull those clubs out one more time.
As the weather seasons change so do the Real Estate seasons. Winter is when the land listings suffer under the snow as buyers prefer to see and touch what they are purchasing. Condominium owners downtown and on the mountain are hesitant to lower their asking price as they hope that the season will bring lots of potential buyers and if not perhaps hope to mitigate some of their costs with rental income for their units. Winter can also be a challenge for potential buyers to view some units if they are rented.
So swap the lawnmower for a snowblower, the golf clubs for skis, put on those winter tires and brings out the coats, hats and gloves. Most of all ENJOY!!! Because spring is just around the corner.

As progressive as we believe we are in today’s society there are simply some things that never change. Our Railroad system still operates in much the way it has for centuries. Certainly there are new innovations and integrated technologies but the way crews are handled smacks of a time before workers rights.
In Real Estate terms there is also a hesitancy to change some of the old norms. The Real Estate profession essentially has always represented the Seller of a property and not the Buyer. In the mid 1980’s a small consumer oriented group thought this needed to be changed and created Exclusive Buyer Agency. A concept dedicated to representing the Buyer through a Real Estate transaction. To accomplish this the Agency or Company itself could not accept any listings from Sellers and no one within that Agency or Company would ever represent a Seller of a property. This was met with great resistance as the dream of most Real Estate Agents is to “double side� a transaction allowing them to keep the entire commission instead of splitting it with the Agent who brought the Buyer. Did that Agent disclose to the people that saw and called on the for sale sign posted in the front yard that they had a contractual obligation to represent the Seller of the property?
This is the crux of the issue, disclosure. In today’s consumer protective environment it would only make common sense that how one is represented in a Real Estate transaction be disclosed. In most States agency disclosure is required but not immediately and hardly ever checked on. Only if the Agency is audited would this come to light. I find it interesting that in the State of Maryland a bill was recently introduced making it mandatory that an agency disclosure be presented and explained at the initial meeting. This bill was soundly opposed by the state Realtors and eventually never made it out of committee. Really?? Is our purpose as Realtors not to set a higher standard of service and ethics to the public?
So Exclusive Buyer Agency remains a small yet dedicated brand of Realtors who choose to forego half of a possible full commission to, instead, do what is morally and ethically correct in protecting the consumer. One day we hope to grow in numbers and become more of a force but in the meantime we will be comforted that we are helping and protecting Buyer’s of Real Estate.