Thursday, April 23, 2009
Assessor releases real property appraisal information for 2009
Contact: Jerry Roberts, Boulder County Assessor, 303-441- 4830, or Barb Halpin, Boulder County Public Information Officer, 303-441-1622
(Boulder County, CO) – Boulder County Assessor Jerry Roberts announced today that his office will mail Notices of Value (NOVs) to all property owners in Boulder County on Friday, May 1. His office is sending out 114,754 NOV's of which about 80% account for residential properties other than apartments and other multi-family residences.
State law requires that each property in the county be re-valued by county assessors in odd-numbered years based on the real estate market activity prior to June 30 of the previous year. The 2009 NOVs will reflect the value of all real property in Boulder County as of June 30, 2008.
The NOVs include customized property information such as the legal description, property description, the value of the property (current and prior) and estimated tax owed in 2010 for the 2009 tax year. As in 2007, the NOVs will also include color photos of comparable properties (sales) in the neighborhood and a map showing where those properties are located in relation to the subject property.
New market value data:
Boulder County’s property value data this year reveal an aggregate total property value increase of 3.48% for all properties (commercial/industrial and residential) in Boulder County over the two-year reappraisal period. The total 2009 market valuation for all properties in Boulder County is $49,071,599,020 ($40,008,802,700 residential), up from $47,442,441,615 ($38,714,313,560 residential) in 2007 – with $492,143,600 of the two-year increase consisting of new construction.
General findings indicate that the majority of residential properties across the county experienced a change in value in a range of between (–) 5.5% and (+) 5.5%, with pockets of varying value change from neighborhood to neighborhood and type of property evaluated.
Of note this year:
- Over the two-year period, residential properties located in the city of Boulder and Niwot gained the most in market value, while properties in certain neighborhoods in Longmont declined the most in market value. Residential properties in other incorporated municipalities and the mountain areas of the county saw modest changes in their assessed values, depending on location and type of property.
- Many homeowners experienced an increase in the actual value of their property, which reflects a healthy real estate market in several areas of Boulder County for the 24 months prior to June 30, 2008. This paints a healthier picture for the Boulder County real estate market compared to reports indicating that housing sales in other areas of the U.S. are languishing or lagging behind the market.
- Due to the timing of the reappraisal period set by state law, the new valuations this year will not reflect the general economic downturn that occurred in the latter part of 2008 and early 2009.
- With depressed economic conditions the State is making reductions in many programs to balance the budget. As a result the Colorado Legislature may be eliminating the Senior and Disabled Veterans Homestead Exemption starting in 2009 (for taxes payable in 2010). Senior citizens who have been approved already for this program are advised to look at the tax estimate included on their Notice of Value. Seniors are urged to be prepared ahead of time in order to cover any increases from what was paid last year.
Each NOV mailed to property owners next week will include an accompanying letter that provides information on the appraisal process and how property owners can file an appeal if they believe their property has not been valued appropriately. Although the Boulder County Assessor does not set property tax rates, the letter does explain how property taxes are calculated for a property. Actual property tax rates will be set by the various taxing entities (municipal, county, schools, special districts, etc.) during their annual budget cycles later this year.
Property owners may appeal the valuation of their properties by mail, online, by fax or in person. All appeals, regardless of valuation method, must be filed by Monday, June 1, 2009. An appeal form can be downloaded online or requested by phone. Additionally, property owners can file an e-appeal directly online without having to mail or fax a form to the Assessor’s Office.
Property owners who have questions about their valuation can contact the Boulder County Assessor's office in a variety of ways:
· By phone: 303-441-4830;
· E-mail (though the Web site): www.boulderassessor.org;
· Mail: P.O. Box 471, Boulder, CO, 80306;
· Fax: 303-441-4996; or
· At one of the following remote appeals locations (please note specific dates and times):
|
Lafayette |
Mon-Fri, May 11-15, 8:00-4:30 Mon-Fri, May 18-22, 8:00-4:30 |
Lafayette Community Services Center 400 E. Simpson St. #105A, Lafayette |
|
Longmont |
Mon-Fri, May 11-15, 8:00-4:30 Mon-Fri, May 18-22, 8:00-4:30 |
Boulder County Fairgrounds, Clover Bldg. 9595 Nelson Road, Longmont |
|
Lyons |
Tuesday, May 19, 8:00-4:30 |
Lyons Town Hall, Board Room 432 5th Ave., Lyons |
|
Nederland |
Thursday, May 21, 8:00-4:30 |
Nederland Community Center Multipurpose Room 750 Highway 72, Nederland |
Additional information about property values and the county’s appraisal process is available on the Assessor’s Web site.
-END-
References:
1) Map showing changes in median values from 2007 to 2009 (PDF)
2) 2009 Assessor's letter to property owners (PDF)
3) Explanation of Property Values and Estimated Taxes (PDF)
Barbara HalpinBoulder County Public Information Officer
BHALPIN@bouldercounty.org
303-441-1622
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