Notice Valuation and Protesting
Updated: Jun 15
By now, you've received your property valuation and if you're like many other homeowners in Northern Colorado you may not be pleased with the value.
As you may know, your property taxes are determined by an equation that begins with the assessed value. We've seen tremendous value increases which is not surprising give the low mortgage rates and low supply/high demand for housing the past few years. Values for 2023 are determined by the market value on June 30, 2022.
However, if you have supporting data, you can protest the value, which if lowered, would impact your property taxes. Part of the algorithm the assessor uses to determine your home's value lies in comparable properties. The county doesn't always pull the best comps for your home and/or may not have all the necessary information to accurately value your home.
Should you protest the value? If it's too high, yes, you should. If the data doesn't show that your home is overvalued, then no, you should not. Protesting it could result in the assessor finding your home undervalued and could raise the value. Not sure? This is where I can help. I can pull comps for you to help determine whether or not you should protest.
You'll need to provide comparable properties that were sold from July 1, 2020 to June 30, 2022. The closer to June 2022, the better. The properties should be similar in size (above grade square footage and below grade should be separated because they hold different value), condition, lot size, location, similar bedroom and bathroom count, and proximity.
Instructions for Protesting:
Can be done online, through email, over the phone or via mail.
Protests must be submitted by June 8th in both Weld and Larimer Counties
You will need your Account Number -- this can be found on your Notice of Valuation.