Understanding Property Values for Assessment Purposes

All real property in Colorado is reappraised on a two-year cycle in odd-numbered years. The actual value assigned to residential properties in 2021 and 2022 is based on market values as of June 30, 2020, as defined by sales of residential property in the 24-month period from July 1, 2018, to June 30, 2020. All sales are trended to the end of the data collection period.

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 2021/2022 reappraisal period, Larimer County is using 24 months of data for residential property. This sales study period extends from July 1, 2018 through June 30, 2020. For vacant or commercial property, the county uses 60 months of data. This period extends from July 1, 2015 through June 30, 2020. The appraisal data used to establish real property value was from at least the 18-month period ending June 20, 2020 and up to 60 months prior to that date as necessary.

Assessors are required to recognize the trends or market changes over that time and adjust all sales to the appraisal date, 39-1-104 C.R.S. The actual value assigned to residential properties in 2021 and 2022 is based on market values as of June 30, 2020, as defined by sales of residential property in the 24-month period from July 1, 2018, to June 30, 2020. All sales are trended to the end of the data collection period.

Market (sales) information for the entire 60-month period (July 1, 2015 through June 30, 2020) is available here and also at the Assessor’s office. Local real estate offices may be able to provide you with sales information.

Each property in the county has a set of characteristics that are used by the model. Examples of characteristics include 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.

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 equitable values.

It is important to realize that a property protest is not an appeal of how much you pay in taxes. Your property's value is an important figure in the property tax equation, and 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 directed to the taxing authorities. You may appeal your property's actual value or classification to the Assessor. 

Much of what your county assessor does is mandated at the state level, and the Colorado Department of Property Taxation works with your state legislative committees to help develop the Assessors' Reference Library (ARL), a series of three manuals and a statutory index that addresses Colorado property assessment.

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Bob Overbeck

Bob Overbeck, Larimer County Assessor

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200 W. Oak Street, 2nd Floor
PO Box 1190
Fort Collins, CO 80522
Phone: (970) 498-7050
Hours:  Monday - Friday 7:30am - 4:30pm
Email: Overbebc@larimer.org