2009 Reappraisal

Residential Information

Important Points

For the 2009 tax year, Colorado statutes require all Assessors to revalue all properties. The market approach to value must be used to determine the value of residential properties.  State statute requires that the market value of a home is to be determined by sales of comparable residential properties that occurred from January 1, 2007 to June 30, 2008. In Broomfield, most residential properties declined in value. However, there were a significant number that did increase in value. The majority of existing residences value changes were between no change or 0%, and -12%. The median change was -6%.

A property owner can review their value by checking comparable sales in their subdivision within the statutory base period of January 1, 2007 to June 30, 2008. The steps to check comparable sales and protest the assigned market value are as follows: 1. Use the sales of the properties that are most similar to yours; 2. If a property owner thinks the value is incorrect, after May 1, a property owner or their authorized agent may protest the value;  3.  Follow the steps to protest that are listed on the Notice of Value sent to each property owner;  4. Submit a protest to the Assessor’s office, mailed protests must be postmarked by June 1, 2009.

• By Colorado statute, only sales from January 1, 2007 to June 30, 2008 can be used to protest the value. Qualified comparable sales can be accessed on the Assessor’s website http://www.broomfield.org/centralrecords/assessor.shtml in the left hand column, under “Comparable Sales January 2007 – June 30, 2008”. Please click on the title. Sales are listed by subdivision. Click on the subdivision to open the sales information. Or click on Find comparable sales in your subdivision which is also on the Assessor’s web page. Also, a sales book is located in the Central Records Office at the Municipal Building at One DesCombes Drive.

• Sales that have occurred after June 30, 2008 can not be used to protest a value. Listings can not be used to protest the value. Sales that have occurred after January 1, 2009 will be used in the 2011 reappraisal.

There are two ways on the Assessor’s website to access more reappraisal information. One is click on “Message from the Assessor: May 1, 2009 – Notices of Value” in the left hand column, or click on Important Message from the Assessor on Reappraisal, also on the Assessor’s web page.

There are approximately 1,200 properties in Broomfield that qualify for the Senior Exemption. It appears very likely that the legislature will change the exemption value from $200,000 to $0. Therefore, the State may not be paying half of the seniors’ property taxes on the first $200,000 in value. Seniors are urged to prepare ahead for this change in state policy in order to cover any increases in taxes from what was paid this year.

For more information, please contact the Central Records Office at 303-464-5819.