We will offer our services at a new satellite office located in the Human Services Center in Westminster at:
11860 Pecos St., Westminster, CO 80234
More information about the exact office number and day of grand opening will be announced soon.
IT IS 2018 – HAPPY NEW YEAR
It is our wish that everyone had a wonderful holiday season surrounded by family and friends!
Let’s talk Real Estate! When purchasing property, it is most likely the largest investment of time and money a person will make in their lifetime. Since the investment you make in your real estate is so substantial, you want that investment to pay off with a significantly increased value. In Adams County, real property sales have been so accelerated that values of real estate have increased approximately 45% or more from 2013 to the present. From July 1, 2016 through June 30, 2017, the market has realized a gain of 9% to 10% of value for residential property. This gain provided the perfect time to take advantage of the extra equity in your property. For example; if you presently have Private Mortgage Insurance (PMI), and your value has increased by at least 20%, you should contact your mortgage lender and explore the possibility of removing that insurance. You could see a big drop in your house payment with no detriment to your personal security. The PMI only benefits the lender, not you.
However, with the increase in value, you may also see an increase in your property taxes. The residential Colorado Assessment rate was reduced this year from 7.96% to 7.2% to adhere to the ratio requirements of the Gallagher Amendment. This will equate to approximately a 10% savings on your property tax which will help to offset a portion of the tax increase that may result as a consequence of the increase in the value of your real estate.
Understanding that property tax increases can create a hardship for some, there are programs that can help. If you were 65 in 2016, lived in your home for 10 years, filled out the Senior Exemption form and were approved, the exemption will be reflected on your 2017 tax bill. Also, if the taxes cause a hardship, there is a Property Tax Deferral Program offered by the State of Colorado. For more information about this program or to obtain an application, please visit the Adams County Treasurers website at http://www.adcogov.org/senior-and-veteran-property-tax-deferral-program
or call the Treasures Office at 720-523-6160. There are also programs available such as; disabled Veteran Property Tax Exemption, Property Tax Rent/Heat Rebate and the Property Tax Work-Off Programs. For more information on these programs visit the Colorado Division of Property Taxation website at https://www.colorado.gov/pacific/dola/property-taxation
Your real estate taxes are what fund many of our schools, fire fighting resources, police protection, libraries and other important public services. Our communities and futures would be compromised if these services weren’t adequately funded. I encourage everyone to keep in mind that the revenue resulting from the appreciation in the value of your property is passed on to our schools, fire districts and all the entities that work together to make and keep our county such a wonderful place to live and work.
THANK YOU FOR ALLOWING US THE PRIVILEGE OF SERVING YOU!