Metro Denver and Boulder saw a record number of residential property valuations contested, but county assessors rejected about seven in 10 of those appeals.
Homeowners in metro Denver and Boulderthis year, but county assessors have rejected about seven in 10 of those appeals.
The share of residential valuation appeals resulting in an adjustment, known as the “success rate,” varied widely by county, from 58% in Broomfield County to between 21% and 23% in Jefferson, Adams, Boulder and Arapahoe counties. About four in 10 appeals resulted in adjustments in Douglas County, while Denver was at 45%.
“It is quite possible that more first-timers were doing this because of the volume, but it seems like they listened to the message and directions that got out there,” he said. Providing assessors with comparable sales or comps of neighboring properties to support a lower value is the most common way people protest. But those sales had to have occurred between July 1, 2020, and June 30, 2022.
Time trending involves taking a sales price earlier in the two-year cycle and bringing it forward to establish an estimated value on July 1, 2022. Some people tried to take lower values from before prices ran up in late 2021 and early 2022 and not adjust them forward, acting as if a record-setting stretch of gains didn’t happen.
“Taxes are calculated using assessment rates established by the state legislature and mill levies established by individual taxing jurisdictions. Value is only one part of the formula and it is not in the assessor’s office scope of work to address these parts of the tax calculation,” said Boulder County Assessor Cynthia Braddock.
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