|
Assessor
Department -
2009 Notices of Value |
The Reappraisal and Appeals Process
Every odd numbered year (like 2009) is a
re-appraisal year. 2008 and all even numbered years are intervening years.
In an intervening year, property values may change if there was new construction
on a parcel, reclassification, demolition, etc. Only owners of those
properties with value changes will receive a Notice of Value in May 2008. The
Notice of Valuation received on May 1 will list the prior actual or market
value, prior and current property class (if applicable), the new actual value,
and the difference.
The month of May is set aside in the assessor department for assisting property
owners with questions and concerns. If you disagree with the assessor's
valuation of your property, you may appeal the value by coming into the Central
Records Office, faxing or mailing the protest form that is included with the
Notice of Valuation. Appeals will not be accepted by phone. Keep in
mind that the statutory deadline is June 1st. Appeals must be in the
assessor's office or postmarked by June 1 according to Colorado law.
| In Person: Central Records Office One DesCombes Drive Broomfield, CO 80020 |
By Mail: Broomfield County Assessor Division PO Box 1149 Broomfield, CO 80038-1149 |
By Fax: Fax No. (303) 438-6252 Faxes must be received in our office no later than midnight of June 1. |
An appeal should concern one of two items:
-
The property characteristics. The number of baths, square footage of home, or the basement being finished
or unfinished are just a few things that can affect the property valuation. -
The actual value is too high. By law the appraiser sets values on property using information from an 18 month data gathering period. For the 2009 re-appraisal and 2010 that period was January 1, 2007 through June 30, 2008. Perhaps a property owner has proof that similar properties have sold for less during that time period.
This would be a good reason to appeal the value.
Q: Should I appeal if I feel my taxes are too high?
No. If you feel your value is fair but that your property taxes are too high, this is a matter to discuss with the taxing authorities. The taxing authorities (school boards, special districts, etc.) hold annual public budget hearings to determine the funds needed for next year's operations, which will determine the mill levy. Most hearings are in the fall. Being present at the budget hearings makes you more involved and informed about the cost and quality of services provided. The assessor reports the total assessed value to the taxing authorities in December each year so an accurate mill levy can be set. The link below lists the mill levies for each authority.
2009
Mill Levies and Revenues
Q:
Where can I find the sales
used to value my property?
The comparable sales are available on this website
(2009
Comparison Sales)
and in books in the Central Records Office. The assessor's
staff and central record's staff are available to assist you.
Q:
I appealed my value.
What happens next?
The assessor must review your appeal and mail a Notice of
Determination on real property by the last working day Q:
And if I disagree with the assessor's decision?
Owners of real property may file an appeal to the Board of Equalization by July
15 and personal property owners
The Appraisal Process
Q: Why
does the Assessor determine property values?
According to state law, all county
assessors must value the property in their county. The assessor department must The values are used by the taxing
authorities to determine their budgets for the next year and in turn set the
mill levy All property tax revenues stay within
the county and do not support state services. Q:
How are property values determined? The value process begins with the
gathering of information on property through various means. Measuring
buildings, construction type and costs, location, use, zoning, condition and
comparable sales are a few. Building permits, maps, inspections, real
property deeds and questionnaires completed by property owners are some of the
main sources of information. 3 Methods of Appraisal
Cost Approach - This approach estimates the cost of replacing a building
with a similar building. On an
Market Approach - In this approach, sales of like properties are examined and
adjusted to arrive at a Income Approach - This approach
is used for income producing properties and considers income from Q:
How are
property taxes calculated? After the valuations are finalized,
the taxing authorities hold budget hearings to determine how much money they
EXAMPLE:
The actual value of Ms. Smith's home is $250,000. The Notice of Valuation shows
the current residential
Actual Value
x
Assessment Rate
=
Assessed Value
$ 250,000
x
7.96%
=
$ 19,900 To determine
the amount of property taxes, multiply the
assessed value
times the
decimal equivalent of the total mill levy.
Using the above examples and a fictional mill levy of 81.253, Ms. Smith’s taxes
would be calculated as follows:
Assessed Value
x
Mill Levy
=
Taxes
$ 19,900
x
.081253
=
$ 1616.94 Q:
How are property taxes
distributed? Counties
perform a service to all taxing districts by conducting the valuation,
collection and distribution of property
Q:
How
do the Taxing Authorities determine a Budget? Every year
the city council, school boards, and special districts hold public budget
hearings to determine the
The Taxpayer Bill of Rights or TABOR, passed in 1992 by
Colorado voters, restricts the ability of taxing authorities to increase tax
rates or revenue without voter approval. Voter approval is necessary on
the following:
To increase tax revenues above the prior year's revenue
+ inflation+ local growth to increase spending above the prior year's spending +
inflation + local growth to raise the residential assessment rate above that of
the prior yea Q: How are Mill Levies Calculated? Each tax district or authority determines the revenue
needed to operate during the next fiscal year. The required revenue is
then divided by the total assessed value (provided by the assessor) to determine
the mill levy or tax rate for that entity. For Example: The assessor has determined that the total assessed value
for the county is $100,000,000. All properties within the county are assessed a county levy
and a school district levy. Cities and/or special districts levy against
those properties within their boundaries. All levies applicable to your
property are added together to calculate the total property taxes due.
Back to top Q: When are property taxes paid?
Property tax bills are mailed as soon after January 1 as possible by the
Treasurer's office. The following guidelines apply: If taxes are paid in two equal payments, the first half
payment is due by the last day of February and the second half is due by June
15. If your payment is late, penalty interest is added to the tax amount.
in June.
may file an appeal by July 20. The Board of Equalization will conduct
hearings through August 5. The back of the Notice of Determination are
instructions and dates. If you are unhappy with the Board of
Equalization's decision, you can file an appeal with the Board of Assessment
Appeals, District Court or enter into binding Arbitration, within 30 days of the
decision. This information is provided in the decision mailed to you by
the Board of Equalization.
equalize property values to make certain that the tax burden is distributed
fairly among property owners. The assessor's land and building records are
public information available in the central records office or on the
parcel search
portion of this website.
for their district. The taxing authorities are the school districts,
fire districts and police protection, roads, parks and recreation, and water
districts just to name a few of the many that provide local services.
The county reports assessed values and mill levies on the
Abstract of Assessment.
older building, the building's age and condition must be taken into
consideration.
value for the subject property. The sales must be arm's length
transactions and occur during the data gathering period, the 18 month period
from January 1, 2007 to June 30, 2008 for the 2009 reappraisal.
This is a link to the
2009 Comparison Sales.
rents, operating expenses and expected financial return on a given type of
income property. Office
buildings, shopping centers and warehouses would be valued with the income
approach.
will need to fund next year's services. These budgets are divided by the
assessed value to determine a levy
necessary to generate the budgeted amount. These levies are applied to
individual properties to determine how
much each property will pay to each taxing authority.
The actual value of property is not the taxable value. By state statute, the
taxable value is a percentage of the
actual value. The percentage is called an “assessment rate,” and the end value
is called the “assessed value.”
The assessment rate is 29% for all properties except residential and producing
natural resource properties. The residential
assessment rate is established by the legislature every odd-numbered year in
order to maintain
an equalization of the tax burden between residential properties and all other
properties. It is currently 7.96% for assessment years 2009 and 2010. Property
taxes are calculated by multiplying the mill levy or tax rate by the assessed or
taxable value of your property.
assessment rate is 7.96 percent.
tax monies for each taxing entity within their boundaries. On average,
counties keep less than 25% of the money collected. A majority of property
tax dollars goes to school districts. Property taxes do not support any
state services.
dollars needed for the next year’s operations. The hearings are usually held in
September or October and the dates are listed in the local newspaper.
Being present at the budget hearings makes you more involved and informed about
the cost and quality of services provided. Each August, the assessor reports the
total assessed value to each taxing entity so an appropriate mill levy can be
set.
The required revenue is divided by the total assessed value to determine the
mill levy or tax rate for that entity.
The City Council determines the required property tax revenues to be $1,398,000.
$1,398,000 =1.3980% or 13.98
mills
$100,000,000
- Tax amounts of $25 or less must be paid in one payment by April
30th
- Tax amounts of $10 or less may incur an administrative fee of $5
added to your bill
- Tax amounts greater than $25 give you the option of paying the
taxes in a single payment by April 30 or in two equal payments.
There is no advantage either way, the amount due is the same.