Property values won’t change much in Eagle County
EAGLE COUNTY, Colorado ” Your property taxes are based on the value of your homein Eagle County, Colorado. If you’re looking for a drop the next time around, you’re probably going to be disappointed.
New notices of property value will be sent out beginning May 1, and Eagle County Assessor Mark Chapin said values won’t change much this time around. The state re-values property every two years, and the law requires county assessors pore over sales data for an 18-month period to determine those values.
Taxpayers’ 2008 taxes were based on values collected through June 20, 2006. Taxes for 2009 will be based on values collected through June 30 of last year. And Chapin said there won’t be much difference in those numbers.
Chapin and county assessors in several other Western Slope counties ” Routt, San Miguel, Gunnison, Mesa and Montrose ” shared their numbers and recently released a statement that property values have essentially remained stable from the last assessment period to the most recent one.
But the last number-collecting period ended in the middle of last year, and the state’s economy didn’t really take a nosedive until last fall. Chapin said that won’t have any affect on property values as calculated by his office.
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Still, the assessor’s office collects sales data all the time, and, Chapin said, his people haven’t really seen a dip in prices, even over the last six months or so.
“On average, we haven’t seen significant proof that sale prices have dropped,” Chapin said his people have been looking through both county sales records and the local edition of the Multiple Listing Service, a real estate industry publication that provides a comprehensive look at every property currently on the market that includes recent sale prices.
“We can’t find anything that shows (a drop),” Chapin said.
While sale prices have held steady, Chapin acknowledged that there aren’t nearly as many sales taking place these days.
Once those notices of value go out, Chapin said he expects Eagle County property owners to respond as they usually do.
“I expect to see a lot of people come in and question their values,” he said. “But that’s what the month of May is for.”
To get the word out about the new notices of value, Chapin said he’s going to spend the next several weeks talking to homeowners associations, metro districts, clubs and other groups to talk about how values are determined.
“We really want to get the information out there,” he said.
Business Editor Scott N. Miller can be reached at 970-748-2930 or firstname.lastname@example.org.