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Assessor’s Office

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1. What does my county assessor do?

The Gunnison County Assessor identifies and values all property within Gunnison County in accordance with state law.

The goal is to equalize property values so that taxes are distributed fairly and equitably between property owners.

2. Why is property taxed in Colorado?

The property assessment process is the basis for generating property tax revenues to pay for roads, schools, parks, libraries, fire protection, police protection, water, sewer, health, and other services.

All revenue from property taxes are distributed to local government and taxing entities within Gunnison County. Property tax revenue does not support any state service.

3. 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 2017 and 2018 is based on sales that occurred prior to June 30, 2016. This is known as the Sales Comparison Approach. More information is available on the Assessment Process page.

4. Do all assessments or values change at the same rate?

Each reappraisal cycle the Assessor's Office disregards the old valuations and starts from scratch using an entirely new sales list extending two years beyond the previous assessment, with a new appraisal date. Colorado law requires that market value or a parcel is established using sales from a specific time frame. Over the course of two years, values in different neighborhoods may change by significantly different amounts.

5. How can my assessment or value change when I haven't done anything to my property?

While a property may not have been updated and characteristics remain the same, the property value is based on what it would sell for as of the prescribed appraisal date. Real estate values are influenced by numerous economic, social, governmental and social factors. As property values change in the marketplace, those changes must be reflected on the assessment roll. The word "improvement" is an appraisal term that refers to the structure that is on a property, and does not imply that the structure has been improved since the previous reappraisal.

6. 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.

7. What is a "sales study period?"

According to State Statute, the assessor is required to gather and confirm sales within an 18-month period ending on the June 30 of the year prior to a reappraisal year, time-adjusting each sale to the June 30 ending date.

This data-gathering period is referred to as the sales study period. While statute prescribes an 18-month study period, assessors are allowed to extend the study period back in time in six-month increments up to 60 months to ensure enough qualified sales within each economic area. When sales volume is high, fewer years can be used. When sales volume is low, more years may be necessary to obtain adequate comparable valuation data.

8. Why is the sales price adjusted for some sales?

Property sales in Colorado often include personal property. The "adjusted sales price" represents the actual sales price minus the personal property, so that only the real property is represented. Personal property can range from kitchen appliances and drapes, to fully furnished properties, to vehicles and golf course memberships.

9. 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 study period ending the June 30 prior to January of the reappraisal year. The assessor may go back in time in six month increments up to five years for their study period data. In Gunnison County, we use a 24-month minimum study period to eliminate seasonal differences that may affect the market in an 18-month period.

In reappraisals with low sales volume, 48-60 months of sales may be necessary to comply with audit requirements. 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 sales study 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.

10. What is an "arm's length transaction"?

The Assessor must evaluate each sale to ensure it is a valid, arm's length transaction. Only sales that are valid (qualified) are used to set value. An arm's length transaction is a sale between two parties who are free and independent of each other. For a sale to be considered valid, it must also be listed for sale on the open market, not be sold under duress, and not involve a tax-exempt entity.

11. If my property value has increased, will my property taxes go up?

If your property value has increased, that does not automatically mean that your property tax will go up by the same percentage. THE ASSESSOR DOES NOT SET PROPERTY TAXES OR MILL LEVIES. Property taxes are a result of assessed value running against the mill levies. The mill levies are established by the taxing districts at the end of each calendar year, based on the revenue needed to fund their annual budget. While there are constraints within the Colorado Constitution and Statutes to prohibit excess taxation, the responsibility lies with the taxpayer to attend the annual meetings of these taxing districts and ensure the expenses within the budgets are reasonable and necessary. Tax districts are political subdivisions of the state, subject to all of Colorado's open government laws, and are required to publish the dates of their meetings and provide financial statements at the public's request.

12. How do I estimate taxes on a new house?

Multiply the current purchase price by the current assessment rate of 7.96%. Multiply this answer by the mill levy in your area, and move the decimal point three spaces to the left. For more information see http://www.gunnisoncounty.org/681/How-Property-Taxes-are-Determined

13. How do I estimate taxes on vacant land?

Multiply the current purchase price by the current assessment rate of 29%. Multiply this answer by the mill levy in your area, and move the decimal point three spaces to the left. For more information see How Property Taxes Are Determined.

14. 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.

15. 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.

16. 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.

17. How are foreclosure sales considered?

There are two parts to foreclosures:

1. The first is when the lender acquires the property due to the property owner defaulting on their mortgage. This is not a sale. An outside bidder can also acquire the property by bidding higher than the lender at the foreclosure proceedings. This is also not considered a valid or qualified sale for the assessor’s records.
   Foreclosures represent the transfer of the property ownership to the lender due to loan default. This transaction does not give evidence of market value. Rather, it represents the amount of the lien, interests and costs due to the lender, or else the amount the lender is willing to settle for, which may not be the entire property value. In some cases, the lien amount may be more than the value of the property. These transactions are not sales and are excluded from the Assessor's analysis.
2. Resale of foreclosure properties occurs when the lending institution who has acquired the property through foreclosure, places the property on the open market for sale.

Resale of foreclosed properties are only considered valid and qualified for the assessor’s records if they meet the state requirements: property listed on the open market for a reasonable time period, sale not between related parties, etc. Unless the condition of the property at the time of sale indicates otherwise, these sales are deemed to be arm's length transactions and are used by the Assessor in the valuation process.

18. How can I verify the value on my property?

Residential improved and most vacant land is appraised by the market appraisal method (also known as the sales comparison method). This appraisal method utilizes sales to set value for similar properties. To verify that your property value has been fairly assessed, you can look up sales through the property records search. Market sales information is also available from the Assessor’s Office, and 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.

19. 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. All neighborhood sales must be considered when establishing a level of value for consistency and equalization purposes. Your sales transaction is verified and then will be considered along with sales of similar properties, so long as it is an arm's length, open market transaction.

20. 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.

21. My house wasn’t complete on January 1. How was it valued?

All property in Colorado is valued as it exists on January 1 of the current year. If a structure is not fully built on that date a partial value reflecting the percentage of completion is used.

22. 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.

23. 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.

24. 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.

25. 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 1 and June 1 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 website for guidelines on how to appeal your assessment.

26. 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 15 to the Gunnison County Board of Equalization (CBOE).

Guidelines for appealing the assessor’s determination to the CBOE are provided in the assessment appeals process on this website.

27. Is the month of May the only time I can appeal a valuation?

No, the Assessor's Office is open Monday through Friday, 8 a.m. to 5 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 email, fax, or in writing, to the Assessor by June 1. The Assessor’s goal is to value your property as accurately as possible. As a property owner, your participation in this process is encouraged.

28. What's the taxpayers responsibility in filing an appeal?

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.

What about decisions reached through the arbitration process?
Decisions reached through the arbitration procedure are final and not subject to review.

29. Who pays the taxes due on property I sold or purchased?

Real property tax is the responsibility of the owner of record January 1 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.

30. How do 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 it to 970-641-7920.

31. 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
Gunnison, CO 81230

32. 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.

33. 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. Before the assessor’s records can be modified to reflect any changes, deeds must be recorded at the Clerk and Recorder’s Office:
Blackstock Government Building
221 N. Wisconsin
Suite C
Gunnison, CO 81230

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.

34. 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.