What is the Assessor’s Office required to do?
Pursuant to Colorado State General Property Tax Law, the Assessor's Office is required to appraise all real property and to determine prescribed equalization in assessments. The total valuation of all property, as determined by the County Assessor, is certified to the state and county and approved by the Colorado Division of Property Taxation. Valuation of the various school districts and of towns and incorporated districts are certified to their respective boards. After the levies are certified to the Assessor, it is then her duty to extend the tax on all properties assessed and direct the County Treasurer to collect them.
Where can I find additional information?
Your County Assessor can answer questions regarding classification and valuation of your property. Your County Treasurer can answer questions regarding the billing and payment of tax. The Gunnison County Assessor’s website provides guidelines, forms, procedures and other assessment and property tax-related information. You may contact the County Assessor by phone at (970) 641-1085. The County Treasurer’s phone number is (970) 641-2231.
What if I change my address?
It is the responsibility of the property owner to notify the Assessor’s Office of any change in mailing address. To protect the taxpayer from an erroneous address change, the address used by the Assessor’s Office will not be changed without the property owner’s consent. For your convenience, you may download an Address Change Card from this site, complete and mail or FAX to (970) 641-7920. Every year, hundreds of people don’t receive the notices we send because they have not kept us advised of their changed addresses. Don’t let this happen to you!
How do I estimate taxes on a new house?
Multiply the current purchase price by the current assessment rate (7.96%). Multiply this answer by the mill levy in your area, and move the decimal point 3 spaces to the left. For more information see How Property Taxes are Determined.
How do I estimate taxes on vacant land?
Multiply the current purchase price by the current assessment rate (29%). Multiply this answer by the mill levy in your area, and move the decimal point 3 spaces to the left. For more information see How Property Taxes are Determined.
Why did my taxes go up over 50% (for example) from last year?
The County Assessor’s Office does not set taxes, but rather determines the current value of each and every property in the county through the process of mass appraisal. Taxes are determined by tax districts and/or the voters.
How is my property value determined?
Values are most often determined by comparing your property with properties that are similar in location, design, size, age, and amenities. The value placed on your home for the years 2007 and 2008 is based on sales between July 1, 2004 and June 30, 2006. This is known as the Sales Comparison Approach. A copy of this method for your residential property is available from our office.
How does the TABOR Amendment affect my valuation?
The Tabor Amendment controls the amount that the State and local governments can collect and spend. It does not affect valuation, which is based on the market price of properties, nor does it limit the rate of increase of an individual tax bill.
How can my value go up so much in one year?
Property is revalued in Colorado every two years. The changes in the value of homes reflect market conditions in the county from July 1, 2004 to June 30, 2006, adjusted forward in time to June 30, 2006, the last date of the appraisal period.
My property's value increased significantly - will my property taxes will also increase significantly?
Your tax bill may increase in 2008. Please keep in mind that your tax bill will not change at the same rate as your property value because the Colorado Constitution and Statutes contain provisions to stabilize residential values and to limit local government spending. Colorado law prohibits revenue increases by taxing entities greater than the amount of local growth plus inflation, unless voters have allowed the taxing entities to bypass these taxing limitations. An election is held and voters approve, in advance, an increase above the current revenue limitations. Local growth is determined by either a percentage change in student enrollment for school districts or based on a new construction formula for all other districts. Inflation is defined as the percentage change in the United States Bureau of Labor Statistics Consumer Price Index for Denver, Boulder.
Revenue increases are limited to a maximum 5.5% even if inflation exceeds this percentage, unless voters have elected to allow taxing entities to exceed this limit.
What if my valuation went up more than the market value increase? Does this mean it is incorrect? What should I do?
If the valuation of your property seems higher than the market value as of June 30, 2006, we encourage you to file an appeal with the Assessor’s Office. See Appeals Process on this website.
Why don’t all properties increase or decrease by the same percentage?
Each property is revalued to the June 30, 2006 value regardless of the percent change. Some people think that the previous (June 30, 2004) values are simply multiplied by an inflation factor, but in a reappraisal, all the data from the relevant time frame is used, along with the latest mass appraisal techniques.
Why is vacant land and commercial assessed at 29%, and residential at 7.96%?
The differences in assessment rates between residential homes and other types of property is the result of an amendment to the Colorado Constitution (known as the Gallagher Amendment) approved by the voters in 1982, which limited the residential share of the property taxes. The State Legislature adjusts the residential assessment rate each reappraisal year to keep the property tax burden from shifting to residential property. This is the Gallagher Amendment in action.
Who sets the tax rate or mill levy?
Tax rates (mill levies) are determined by each taxing authority (County, Cities and Towns, School Districts, Fire Departments, Water and Sanitation Districts, and others) in the fall of each year. These authorities provide services to you and are listed on your annual tax notice. Amendment I, the Tabor Amendment, was approved by the voters in 1992 and restricts the ability of taxing authorities to raise tax rates or revenue without voter approval. Some tax authorities have chosen to provide temporary tax credits, which allow the tax districts to maintain its official mill levy and not exceed revenue limits. See Taxing Districts and Authorities for more information.
How does the Assessor come up with market value on homes?
The Assessor’s Office uses sales in the economic area, from the 24-month period ending June 30, 2006, comparing similar properties. See Map of Gunnison County Economic Areas.
What are the factors used in determining value?
By law, the Assessor must consider a variety of market based information in appraising different kinds of property:
- Vacant Land: Sales of similar land taking place during the study period adjusted for time and physical differences such as size, topography and access to amenities.
- Residential Homes:Market sales of similar homes, taken from the current study period adjusted for time and property differences such as size, location, or age.
- Commercial Property:Market sales of similar commercial property; and market based less depreciation plus the land value. The Assessor's job is to analyze all pertinent information and reconcile it into an accurate, fair estimate of value.
How does my county appraiser determine market value?
The appraiser looks at the age, quality, location, condition, style and size of the property. The appraiser then uses one or more of the following three methods to appraise property at market value.
Residential Property.
- The Market Approach: sales of similar property are compared to each other. The appraiser then adjusts for differences (for example, one building may have more square footage than another).
Commercial/Industrial Property.
- The Market Approach: sales of similar property are compared to each other. The appraiser then adjusts for differences (for example, one building may have more square footage than another).
- The Cost Approach: the cost to replace your property is adjusted for age and condition. This approach works well for new and unique properties.
- The Income Approach: in general terms, income from rent is used to value property. This method works well for income producing properties (for example, office buildings, medical buildings and malls).
What is time trending and why is it necessary?
Residential properties, by law, must be valued solely by the market approach, using comparable verified sales from the 18 month study period ending the June 30th prior to January of the reappraisal year. The Assessor may go back in time in six month increments for their study period data. In Gunnison County, we use a 24 month study period to eliminate seasonal differences that may affect the market in an 18 month period. These same statutes require the adjustment of sales prices within this study period to the end of the data period. Sales of residential homes taking place during the 24 month period are analyzed to establish the residential time trend adjustments. Since the law requires that sales prices be adjusted for time to the end of the study period on the June 30 appraisal date, it’s as if all homes that sold during the study period were sold on the June 30 end date and the time adjusted sales prices (TASP) reflect market conditions on that date.
How can I verify the value on my property?
Market (sales) information is available for a 24-month period, (from July 1, 2004 to June 30, 2006) from the Assessor’s Office. A staff member can assist you in locating sales information. Be sure to use sales from the current 24-month sales study period. For non-residential properties, construction cost and/or income data of comparable properties can also be used to verify the accuracy of your property value.
How does the Assessor establish the value of property?
The assessment date is January 1st of each year, for taxes payable the following year. For residential properties, the Assessor must determine actual market value. This is based on style, size, amenities, location, and other property characteristics, which is then compared to similar properties that have sold during the sales study period, July 1, 2004 through June 30, 2006. Those sales nearest to the end of the 24- month period would be the most representative. Keep in mind that residential properties can only be valued by the market approach (due to the Tabor Amendment). For most non-residential properties, the Assessor considers comparable sales information, construction cost, depreciation, and the income approach to value.
What is a "Sales Study Period?"
According to State Statute, the Assessor is required to gather and confirm sales within an eighteen-month period ending on the June 30th of the year prior to a reappraisal year, time adjusting each sale to the June 30th ending date. This data-gathering period is referred to as the Sales Study Period. While statute prescribes an eighteen-month study period, assessors are allowed to extend the study period back in time in six-month increments to ensure enough qualified sales within each economic area. Gunnison County generally utilizes a 24-month study period for residential and vacant land properties, and a 36-month study period for commercial properties. The study period for the 2007 reappraisal cycle for residential and vacant land was from July 1, 2004 through June 30, 2006.
How will I know what value the Assessor has placed on my property?
The Assessor mails Notices of Valuation (NOV) to property owners on May 1st. The NOV states the actual value for that year.
If I bought my house within the last two years, shouldn’t the value be the same as what I paid for it?
One sale by itself does not determine market value. In addition, inflation and other market conditions may affect the market value of your home as of January 1. The price you paid for your house is verified by the county appraiser and then considered along with sales of similar properties.
Where do I find my comparables?
Market (sales) information is available for the 24-month period, (from July 1, 2004 to June 30, 2006) from the Assessor’s Office, and is also available online on our Reappraisal Sales page. All sales of properties are recorded with the Clerk & Recorder's Office. This information is then given to the Assessor's Office. This data is public information and we will gladly show you how to obtain the required information. A Real Estate office is another good source for information on sold properties.
How often do you re-value?
Colorado law requires all Assessors to reappraise all real property, including land and improvements, every two years, during odd-numbered years. Reappraisal is the review and adjustment of property value to a different level of value.
How is actual square footage determined?
The Assessor's Office uses exterior measurements of homes and buildings. This may cause the Assessor's estimate of square footage to differ from that estimated by the builder or realtor since they frequently use interior measurements. The valuation procedures used by the Assessor are adjusted to account for the use of exterior measurements, which helps to assure correct values.
The square footage you list for my house is different from what the building plans indicate. Why is that?
Real estate appraisers measure residences from the outside, so the square footage of areas includes the thickness of exterior walls. In taking these measurements, our office rounds to the nearest ½ foot (for example, if a wall measures 18’ 7", it is rounded down to 18’6”; but if it measures 18’ 8", it is rounded up to 19’), so sometimes the rounding will cause a difference in listed square footage. In other cases, building plans may list only the area inside the exterior walls as living area, so that can account for differences of several hundred square feet when compared to areas based on including the exterior walls.
My house wasn’t complete on January 1st. How was it valued?
All property in Colorado is valued as it exists on January 1st of the current year. If a structure is not fully built on that date a partial value reflecting the percentage of completion is used.
My property doesn't compare to the expensive home down the street that just sold. Are you valuing my property based on that property?
Although location is very important in the valuation of real estate, it is not the only factor. Other factors to be considered in choosing good comparable sales are similarity in size, quality, style, and condition of the residential improvements. Therefore, other sales are also being considered in the valuation of your property.
If the base year period is July 1 2004 - June 30, 2006, how can you say my home is 25% complete when we had not even broken ground on my home back in June 2006?
The value shown on your Notice of Valuation is based on the condition of the property as of the assessment date of January 1, 2007, not as it existed on June 30, 2006. Therefore, if the structures being built on the property were in a 25% complete stage as of January 1, 2007, the property is considered 25% complete for 2007.
But my house wasn't built on 6/30/06.
Your assessment is based on its status of your property as of January 1, 2007, and valued according to what it would have been worth on June 30, 2006.
I would like to get my property classified as agricultural. What are the requirements?
The Agricultural Classification is for those properties engaged in farming or ranching for the primary purpose of obtaining a monetary profit. For a farm, the land must be used to produce agricultural products. For a ranch, the land must be used for grazing livestock, and the livestock must be used for food for human or animal consumption, breeding, draft, or profit. Pleasure horses and horse boarding operations do not qualify for the Agricultural Classification. Additionally, the property must have a two-year prior history of a qualifying agricultural use, and income documentation (IRS 1040 F forms, receipts, lease agreements, etc.) for those prior years must be provided. For more information, see our Agricultural Property web page. Click here to print a copy of the Agricultural Land Classification Questionnaire.
If I disagree with the Assessor’s valuation of my property, what should I do?
Property owners can appeal the Assessor's valuation of their property between May 1st and June 1st of each year. You may appeal your assessment in writing or in person by scheduling a hearing with an appraiser. See the Assessment Appeals section of this web site for guidelines on how to appeal your assessment.
What if I disagree with the total actual value of the property?
You would fill out the Mail-in Appeal Form – Real Property on this website or the real property appeal form on your Notice of Valuation or you may contact the Assessor's Office in writing. Keep in mind that residential properties can only be valued by the market approach. You should inform the Assessor what you believe the value of your property to be along with three comparables or like properties supporting that value.
I agree with the total actual value, but I'm afraid my taxes will go up accordingly. Should I appeal my value because I feel my taxes will increase?
NO! The assessment rate is set by the State Legislature. Mill levies are set each year by taxing authorities. The mill levy determines amounts of each tax bill that goes to schools, fire districts, water and sanitation districts, governmental agencies, and other special districts. Each tax district differs depending on the location of the property within the various district boundaries.
My Notice of Valuation shows land value and improvement value, but I didn’t make any improvements. Why did my value increase when I have not done anything to improve my property?
The word "improvements" on your Notice of Value is the terminology used to identify everything added or put onto the land, such as buildings. Though you may have changed nothing about your home, if you are showing an increase in value, then the market value of your home in Gunnison County may have increased.
When should I appeal my total value?
Notices of Valuation are mailed May 1. Please read the notice carefully. There are specific dates for mailing your appeal or for hand delivery of your appeal. Contact your Assessor’s Office during the appeal period of May 1 through June 1. Don't wait until you receive your tax bill the following January! Procedures for appealing your assessment are provided in the Assessment Appeals Process and the Assessment Calendar on this website.
What happens after I appeal?
The Gunnison County Assessor's Office will review your appeal and respond to you in writing by the end of June with a Notice of Determination (NOD). If you are not satisfied with the Assessor's determination, you may make a written appeal on or before July 15th to the Gunnison County Board of Equalization (CBOE). Guidelines for appealing the Assessor’s determination to the CBOE are provided in the 2007 Appeal Process guidelines on this website.
Is the month of May the only time I can appeal a valuation?
No. The Assessor's Office is open Monday through Friday, 8:00 a.m. to 5:00 p.m. to answer your questions and to ensure that all valuations are fair. However, to preserve your legal right to appeal a decision of the Assessor's to the County Board of Equalization, you must first make a formal appeal, in person, by e-mail, by fax, or in writing, to the Assessor by June 1. Remember, the Assessor’s goal is to value your property as accurately as possible. As a property owner, your participation in this process is encouraged.
What's the Taxpayers responsibility?
If the Notice of Valuation reflects a value you disagree with or if you have questions about the valuation, contact your County Assessor. If you do not receive a Notice you must call our office or you may lose you rights to further appeal. Do not wait until you receive your tax bill next January.
If you are dissatisfied with the County Board of Equalization’s Decision:
You may appeal to the Board of Assessment Appeals (BAA), to the County Commissioners for binding arbitration, or the District Court of the county in which the property is located. You must appeal within 30 days of the County Board of Equalization's decision. Your determination for the County Board of Equalization will include procedures to file for arbitration, a BAA hearing, or District Court.
If you are dissatisfied with the decision of the Board of Assessment Appeals or District Court:
You can appeal to the Court of Appeals within 30 days of the Board of Assessment Appeals decision or 45 days of a District Court decision.
What about decisions reached through the arbitration process?
Decisions reached through the arbitration procedure are final and not subject to review.
How can I determine if the appraisal of my home is accurate?
You can visit the county Assessor’s office to review information on similar properties and verify that the information the Assessor has on your home is correct. If a neighbor has a similar house which recently sold, the sale price may also give you an indication of the value of your house.
What should I expect at the informal meeting?
During the meeting, the appraiser will explain how the appraised value was determined for your property from the market. During or before the meeting, review the record on your property to be sure all the information such as age, style and size is correct. You may also want to identify and review information the Assessor’s office has on properties comparable to your own and sales of comparable properties. After your meeting the appraiser will review all the information and send you a Notice of Determination by the last working day in June. Please remember that the County Assessor is required to appraise property in a uniform and equal manner and should not be considered an adversary. The county does not receive more money by raising property values.
Who pays the taxes due on property I sold or purchased?
Real property tax is the responsibility of the owner of record January 1st of each year. Private contracts between buyer and seller will often specify who pays the taxes or how the taxes are prorated based on the date of title conveyance. The proration is generally completed at the closing with the title company.
How do I change my name or add a name, or take a name off the ownership of my property?
A new deed must be recorded in the Clerk and Recorder’s Office, 221 N. Wisconsin, Suite C, in Gunnison.
What is the difference between a Quitclaim Deed and a Warranty Deed?
A Quitclaim Deed is a form of property conveyance in which any interest the seller possesses in the property described in the deed is conveyed to the buyer without warranty of title. A Warranty Deed conveys to the buyer title to the property free and clear of all encumbrances, except those specifically set forth in the deed.
How do I change title on my property? The title on property can be changed via a recorded deed. The Assessor’s Office is an "office of record," which means changes in ownership or property boundaries are done based on recorded deeds, surveys, subdivision plats, and other documents pertaining to ownership. Deeds must be recorded at the Clerk and Recorder’s Office before the Assessor’s records can be modified to reflect any changes.
Where is the Clerk and Recorder’s Office?
The Clerk and Recorder’s Office is located in the Blackstock Government Building, 221 N. Wisconsin, Suite C, in Gunnison. The telephone number is: (970) 641-1516.
Should I bring you a copy of the recorded deed?
It isn’t necessary to bring us a copy of the recorded deed. The Assessor’s Office accesses all recorded documents from the Clerk and Recorder’s Office that concern ownership changes.
How can I correct the acreage on my property description?
The acreage on the property description is determined by a recorded deed, certified survey (which corresponds to a recorded deed), or a recorded subdivision map.
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