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May 21, 2019

“The assessor says our home is worth what?” The scoop on protesting your property value.

Deadline for protesting your home’s new valuation with the Denver assessor is June 3, 2019

Like many Stapleton residents, I recently opened my new property tax valuation from Denver’s Assessment Division and saw that my property value had increased.  This isn’t unusual in Denver these days.  Denver Assessor Keith Erffmeyer recently told 9News that his office reviewed over 222,000 taxable properties citywide during the latest assessment window, and single-family residential property valuations in Denver increased by a median of 20%.  Multifamily properties saw a median increase of 24%.

Generally, increased property values are good news for homeowners, but of course a higher valuation from the assessor’s office also means a larger property tax bill.  But here’s a bit of good news.  If you’re thinking about protesting your new valuation, you still have time – and don’t worry – your tax valuation does not materially impact your resale value (we get this question a lot).  The deadline to file your protest is June 3 this year, and you can protest in multiple ways, including online, by mail, by fax, or even in person.  Your Notice of Valuation (one of the documents you should’ve received in the mail from the assessor) has instructions explaining how you can submit your protest, as well as other FAQs and requirements.

As a local Stapleton realtor, I’ve always been curious how successful – or unsuccessful – protesting real estate valuations in Denver really is.  Well, according to this article, the Denver assessor grants about 50 percent of all appeals.  Also, for those interested, here are the success rates in other local jurisdictions according to Channel 7: “Adams, Arapahoe and Jefferson counties also report successful appeal rates around 50 percent, while Douglas County reports only about a quarter of appeals are granted.”

According to the Denver assessor’s website, when protesting you should be sure to explain why you think your valuation is incorrect and “submit any information (such as sales of homes similar to yours or information concerning condition problems with your home, etc.), which will assist the Assessor in making a review of your value.”  Your realtor should be able to help you find the best comparable properties for your home and may have knowledge of comparable homes’ condition/fit/finish/etc to help you justify your protest.

The Assessor is required to get back to you by August 15, 2019.

So those are some of the basics you should know about your valuation and the protest process!  The Denver assessor’s website (www.denvergov.org/assessor) has a wealth of information on point, so be sure to check it out.

Last but not least, keep in mind that while we’re real estate experts here at the Scoop, we’re not legal or tax experts.  Be sure to consult with your advisors and do your research when it comes to real estate taxes, assessments, valuations, and protests and your specific situation, and remember that we can’t provide advice or opinions on taxes here at the Scoop.

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