Property tax value notices are hitting mailboxes around Colorado this week and many of them reflect big increases. Some homeowners in southeastern Colorado may see the number their taxes will be based on go up as much as 65 percent.
It is possible to file a protest to disagree with the county assessor's valuation of your property, though successfully doing so can be difficult. An appeal needs to explain why the value is incorrect or unfair and include supporting documentation. That includes comparing the property to similar ones sold prior to the end of June last year. Cases can be also made if the square footage, condition or other characteristics of the home aren’t accurate in the county records.
The deadline to file a protest with the appropriate county assessor’s office this year is June 8.
Meanwhile, there are other avenues that could reduce a property tax bill if the taxpayer qualifies. That includes the senior citizen, veteran with a disability, and Goldstar spouse exemptions.
Additionally, the state legislature has approved other property tax relief measures and is considering additional proposals to mitigate the tax burden on property owners.
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