Property owners can expect similar tax bills
Special to the Post Independent
Glenwood Springs, CO Colorado
Property owners in Garfield County can expect to see their tax bills by the end of this week, but don’t expect to see a big change in the amount that’s owed.
The assessed value of most properties has gone down in the last couple of years. But the lower value won’t be reflected in property tax bills until 2012.
“The tax bill that you’re paying for 2010 is based on the assessed value from July 2008,” said Garfield County Assessor Jim Yellico. “Property values have seen a pretty big drop since then – from 20 to 40 percent – but you won’t see that until you pay your bill [next year] for 2011.”
The assessor’s office is currently reassessing value for properties throughout the county based on June 2010 values, which will reflect the drop in values since the recession. Property assessments are revalued every other year and property owners will receive a new notice of valuation in May.
“We expect a drop in property value, but that doesn’t necessarily mean you should expect it to correlate with a drop in property tax,” Yellico warned.
The property tax bills will go out by the end of the week and should be about the same as last year, according to Garfield County Treasurer Georgia Chamberlain.
“Other than something dramatic that has changed, they should be approximately the same,” she said.
Property owners have the option of paying their bill in full by May 2, or in two installments with the first due on Feb. 28 and the second on June 15. For those who hold mortgages, the tax bill may be paid to the mortgage company and held for payment to the county in an escrow account.
All tax bills are sent to the address of record on file with the Garfield County treasurer’s office. If your address has changed or you have questions about your bill, call the county treasurer’s office at 945-6382.
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