You’ve probably just received your 2011 Notice of Valuation from the County Assessor’s office. Every two years we get one of these and the current data is based on sales information from the 18 months spanning January of 2009 through June of 2010. If you have an unusual house that is hard to find comparative sales for, the Assessor can go back 5 years to get comaprable properties.
As you may have read recently in the newspaper article cited below
Boulder County’s property values have dropped about 2.6% over the last couple of years. There’s variation of course. Some areas of the county have shown appeciation, like areas in our zip code 80303. While other areas like North Boulder have declined over 5%, after having some of the biggest appreciation a few years ago when things were humming along. It wasn’t long ago when every other house in North Boulder was being scraped or popped. Things do change, even here in Boulder. But, considering how things look in other areas of the country, we’re very fortunate.
Of course there’s good news and bad news with this. If your property value shows a decline since your last assessment, your property tax will decrease. Good news! However, this is bad news for the state budget, which is already reeling from lost revenue from the economic downturn.
If you disagree with your Property Valuation, you can appeal it. We did a few years ago and got our valuation reduced. You just have until the end of the May to appeal though. To do this, you’ll need some solid documentation, particularly coming from 3 comparable sold properties that support your claim. If you would like help with this, just let us know. AS a courtesy, we’re making a special offer to our clients and friends in the Boulder area:
- We will research your property value for you. If it does seem too high, we will look for 3 comparable properties that have sold recently that support an appropriate property valuation at no charge to you.
Let us know if we can be of help with this.