Garfield & Hecht, P.C. Can Help You Protest Your 2019 Real Property Valuation
Real property in Colorado is automatically revalued every 2 years, and 2019 is a valuation year. Valuations are based on comparable sales in your neighborhood during the prior two years (i.e., July 1, 2016, through June 30, 2018). If you believe your property has been overvalued and desire to protest, the first step is to submit a written protest to your county’s assessor stating the reasons why your property is overvalued. Arguments for a reduction in value range from distinguishing your property from the comparable sales’ transactions to more technical arguments related to inflation and time-value formulas employed by the assessor. A recent appraisal showing a lower valuation may also be strong evidence in favor of a reduction. An attorney familiar with local real estate transactions can be instrumental in successfully handling your protest and presenting arguments for a lower valuation.
Once the initial protest is submitted, the Assessor’s office must issue a determination on or before June 30, 2019. If the initial determination is not satisfactory, owners have further recourse to your county’s Board of Equalization (BOE) with appeals due on or before July 17. This second round of appeals will be processed, including a hearing before the BOE, and determinations issued by mid-August. If necessary, owners may continue appeals to the State Board of Assessment or the district court system.
The deadline for the first round of appeals is June 3, 2019. Garfield & Hecht has extensive experience in handling tax protests for our real estate clients. For further information and assistance in understanding your valuation notice and the appeal process, please contact:
For Pitkin County: Avery Nelson, ; Phone: (970) 925-1936 x 222;
For Eagle County: Jason Buckley, ; Phone: (970) 949-0707 x 851;
For Garfield County: Haley Carmer, ; Phone: (970) 947-1936 x 815.