How Property is Valued

Whether you own property in Gunnison County or somewhere else in Colorado, your 2023 and 2024 values will be based on sales that occurred up to the 2023 reappraisal date of June 30, 2022. 2023 is a reappraisal year, and 2023 property valuations will be mailed to all property owners on or before May 1, 2023. Colorado law requires assessors statewide to revalue all real estate in their respective counties as of a specific appraisal date, and for the 2023 reappraisal that date is June 30, 2022. The revaluation, or reappraisal, occurs in odd-numbered years, and in the intervening, or even-numbered, years the value stays the same as the previous year unless the property has changed (for example, due to new construction).

Every reappraisal, we disregard the old valuations and start from scratch using an entirely new sales list. In other words, we are not allowed to adjust values up or down by a percentage, but instead have to analyze sales from a specific study period. In the 2023 reappraisal, transactions that occurred between July 1, 2017 and June 30, 2022 were used for analysis. Sales or market influences that occurred after the appraisal date are not considered.  

Additional Information:

Residential Property Valuation (PDF)

Vacant Land Valuation (PDF)

Commercial and Industrial Valuation (PDF)