Frequently Asked Questions
- How can I protest my property value?
Online protest filing will be available for anyone receiving a postcard in May for the 2014
protest period. We've made it easy to help you avoid a drive and waiting in line. Protests
are typically heard by the Assessor's office from May 1 through June 1 every year and are taken
on first come, first served basis. Standard office hours are from 7:30 AM to 4:30 PM, Monday
through Friday. Protests can be filed either online, in person, by letter or fax. We cannot
accept appeals sent in by email or taken over the phone. See the
2013 Assessment Update
for more information.
- How are property taxes calculated?
The following calculation is used to determine your property tax:
Actual Value x Assessment Rate x Mill Levy / 1000 = Property Tax
$240,000 Actual Value x 7.96% Assessment Rate = $19,104 Assessed Value
$19,104 Assessed Value x 86.49 mills/1000 = $1,652 tax bill
- Who sets the assessment rate?
The "Gallagher Amendment" to the Colorado Constitution requires that a relationship be maintained, on a statewide basis, between the amount of property tax paid on residential property and the amount paid on nonresidential property. The state legislature sets the residential assessment rate once every two years to maintain that relationship. The assessment rate on nonresidential property is fixed at 29%. The residential assessment rate for 2013 and 2014 is 7.96%.
- How is my property value determined?
All real property in Colorado is reappraised on a two-year cycle, in odd-numbered years. The actual value assigned to residential properties in 2013 and 2014 was based on market values as of June 30, 2012, as defined by sales of residential property in the 60-month period from July 1, 2007, to June 30, 2012. All sales are trended to the end of the data collection period.
- How does a mass appraisal model value my property?
Each property in the county has a set of characteristics that are used by the model. Some examples are its location, living area square footage, basement square footage (finished and non), style, quality, garage square footage, lot features, etc. These variables may be reviewed on sold properties used in the model in order to estimate value of the properties. The model is then applied to both sold and unsold properties. See Impacts to Residential Values
for more information.
- Are foreclosure sales considered?
Foreclosures represent the transfer of the property ownership to the lender due to loan default. These transactions do not give evidence of market value; typically representing the amount of the lien held by the lender, not the entire property value. In some cases, the lien amount may be more than the value of the property. These transactions are excluded from the Assessor's analysis.
However, resale of foreclosures are considered. Unless the condition of the property at the time of sale indicates otherwise, these sales are deemed to be arm's length transactions and are used by the Assessor in the valuation process.
- How is actual square footage determined?
The Assessor's Office uses exterior measurements of homes and buildings. This may cause the Assessor's estimate of square footage to differ from that estimated by the builder or Realtor since they frequently use interior measurements. The valuation procedures used by the Assessor are adjusted to account for the use of exterior measurements, which helps to assure correct values.
- What is a "sales study period"?
According to Colorado Statute, the Assessor is required to gather and confirm sales within a time period of no less than eighteen-months ending on the June 30th of the year prior to a re-appraisal year, time adjusting each sale to the June 30th ending date. This data-gathering period is referred to as the Sales Study Period. For the 2013/2014 reappraisal Larimer County is using 60 months of data. This sales study period extends from July 1, 2007 through June 30, 2012.
- How can I verify the value on my property?
Market (sales) information is currently available for the 60-month period, (from July 1, 2007 to June 30, 2012) in the Assessor's Office. This information is also available online. Check out the Larimer County Sales Search
. Local real estate offices may be able to provide you with sales information.
- Can I appeal my property taxes to the assessor?
Not really. You may appeal your property's actual value or classification to the Assessor.
Because your property's value is an important figure in the property tax equation, a different value or classification can have an effect on your property taxes. However, the level of taxation is determined by taxing authorities, not the Assessor. Questions about the level of taxation should be taken directly to the taxing authorities.
- Where can I find out about a property tax exemption for disabled veterans?
In the 2006 General Election, Colorado voters passed Referendum E - Property Tax Exemption for Disabled Veterans. This extended the existing property tax exemption for qualifying seniors to any United States military veteran who is one hundred percent permanently disabled due to a service-connected disability. The change will reduce property taxes for qualified disabled veterans by exempting a portion of the value of their home from property taxation.
See Exemptions for Senior Citizens & Disabled Veterans
for more information.
- How do I convert my mobile home to real property?
- How do I get my lands classified as agriculture?