2021 Property Valuation: What You Need to Know to Protest Your Value
If you are anything like me, you were probably annoyed the first time you received a “real property notice of valuation” on your home. Actually, I take that back, I was pleased to see that my property value had increased, but in my naivety at the time, didn’t realize that an increase in my property value also means an increase in my monthly payment to the bank, specifically as the escrow account that pays my yearly taxes would be short of funds.
I’ve gone through a few iterations of these county assessor property valuations now and have come to expect that my monthly payment will increase over time, especially property values continue to increase across the front range. However, there are some circumstances where the county assessor get the valuation all wrong, and in these circumstances it can totally make sense to protest your property valuation to the county in order to keep your taxes in-line with what is reasonable.
Recently, you may have received the 2021 property value notice, and might be concerned about how much your valuation has increased in the past 2 years. If that is the case, here are the steps and tips on how to protest that valuation.
1. This is important! The 2021 valuation is based off of the previous sales data up to June 30, 2020. That is great news for most homeowners as the past 12 months of sales data has increased at a rapid pace and could greatly affect your ability to successfully protest your value
2. You have until June 1, 2021 to protest your value unless you a senior citizen or disabled veteran in which case the protest period extends to July 1-15 2021
3. You can either fill out the card that was sent to you, with your estimated property valuation, or you can have a real estate agent act on your behalf to protest the value.
4. There is also an online process that you can go through to protest the value. That can be found here: https://apps.larimer.org/assessor/protest/
If you think that your home has been incorrectly assessed this past period, feel free to reach out and I can help you figure out what the true valuation (as of the period noted) would be. I’m happy to be of assistance!
Tim Borgman
tim.borgman@8z.com
(970) 999-4581
