I was recently at a meeting with the Boulder County Assessor and this year’s property re-appraisal cycle is going to be very interesting. The Boulder Assessor is forecasting that single family residential values will jump 28-30% since the last re-appraisal May 1, 2015. The change for attached homes will be even greater. Many homeowners out there are in for a spring surprise.
The one bright spot on the horizon is that the State Legislature is changing the assessment rate for the first time since 2003 and is considering lowering it to 7.20% from 7.96%. This number isn’t fully set in stone yet but must be set prior to the end of the legislative year on May 10th. The net effect of these changes is that residential property tax bills should increase, but not the same 28-30% increase we will see in valuations.
The Denver Post has great maps from seven metro area Counties showing their forecast changes in value. Here’s that link and below, Boulder County’s map.