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Assessor Department  -  2008 Notices of Value
Assessor@Broomfield.org

Phone (303) 464-5819
Fax (303) 438-6252

 

 

The Reappraisal and Appeals Process

Q:  What is an appeal?

Every odd numbered year (like 2007) 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.

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Q:  Where do I appeal?

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.

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Q:  Why would I appeal?

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 2007 re-appraisal and 2008 that period was January 1, 2005 through June 30, 2006.  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.

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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.

 2008 Mill Levies and Revenues 

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Q:  Where can I find the sales used to value my property?

The comparable sales are available on this website (2007 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
in June. 

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
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.

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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
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.

The values are used by the taxing authorities to determine their budgets for the next year and in turn set the mill levy
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.

All property tax revenues stay within the county and do not support state services. 

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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
older building, the building's age and condition must be taken into consideration.

Market Approach - In this approach, sales of like properties are examined and adjusted to arrive at a
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, 2005 to June 30, 2006 for the 2007 reappraisal. 
This is a link to the
2007 Comparison Sales.

Income Approach - This approach is used for income producing properties and considers income from
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.

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Q:  How are property taxes calculated?

After the valuations are finalized, the taxing authorities hold budget hearings to determine how much money they
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 2007 and 2008. Property taxes are calculated by multiplying the mill levy or tax rate by the assessed or taxable value of your property.

EXAMPLE:

The actual value of Ms. Smith's home is $250,000. The Notice of Valuation shows the current residential
assessment rate is 7.96 percent.

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

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Q:  How are property taxes distributed?

Counties perform a service to all taxing districts by conducting the valuation, collection and distribution of property
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.     

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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
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.

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Q:  Are there restrictions on revenues?

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 the Mill Levy above that of the prior year

  • 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 year

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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.
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

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.

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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:

- 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.

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.

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