Assessor expects protests over commercial valuations | PostIndependent.com

Assessor expects protests over commercial valuations

Lynn Burton
Post Independent Staff

Commercial property owners in Garfield County are in for a painful surprise next week.

The Garfield County Assessor’s Office will mail out property valuation notices next week.

Assessor Shannon Hurst said commercial properties have increased in value nearly twice as much as residential properties during the past two years.

Hurst told the Garfield County Commission on Monday she has a “bad feeling” more commercial property owners will protest their valuations than in past years.

“The economy is down, but valuations are up,” Hurst said.

Hurst said commercial property valuations increased about 25 percent countywide, compared to 15 percent for residential property.

The new valuations reflect the market value of properties on June 30, 2002. Colorado law requires county assessors to reappraise all properties every two years.

For this period, assessors based values on market sales from Jan. 1, 2001, through June 30, 2002, Hurst said.

“Your last valuation year was based on an appraisal date of June 30, 2000,” Hurst said. “Therefore, the increase in value is representative of a two-year time frame. Any change in the market after our appraisal date of June 30, 2002, will be considered in the next reappraisal year of 2005.”

For residential property, the assessor’s office compares like properties in the same neighborhoods based on age, building quality, location and square footage.

“Residential property in Parachute was the lowest at about 10 percent,” Hurst said. “The rest of the residential property for the county was about 15 percent.”

“Neighborhoods in Carbondale aren’t compared to neighborhoods in Glenwood Springs,” Hurst said. “There are even different neighborhoods within Glenwood Springs,” she continued. “There are high-end homes in Oasis Creek, but we don’t compare those to the old part of town.”

Hurst said she must mail out the 25,320 valuation notices by May 1. Property owners can protest their valuations until June 2.

The protest procedure is explained on the back of valuation notices, and they can be phoned, faxed or mailed to the assessor’s office.

Hurst stressed that only valuations, not taxes, can be protested to her office.

Property taxes are calculated in January by multiplying a property’s assessed value by the mill levies set by all the taxing districts covering the property.

Contact Lynn Burton: 945-8515, ext. 534

lburton@postindependent.com


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