From the Assessor’s Desk
Lower Residential Rate in 2017?
On May 1st, the Assessor’s office mailed the 2017 NOTICE OF VALUATION (NOV) to every property owner in Adams County. Your NOV will reflect the new value resulting from the 2017 Reappraisal.
*** IF YOU RECEIVED A SECOND NOV ON THE ASSESSOR’S LETTERHEAD, PLEASE
CLICK HERE FOR DETAILED INFORMATION ***
Like all the Metro counties, we too experienced extreme growth and increases in value. All values are calculated using a CAMA (Computer Automated Mass Appraisal) process. This process compares LIKE properties with LIKE attributes using valid sales from boundaries with as close proximity to the subject property as possible. Value increases have two major effects for the property owners. No. 1, investing in property is generally the biggest expense that most people ever make, and watching that investment grow is rewarding. Added value can mean increased equity and salability, meaning more substantial profit to the property owner.
No. 2, but on the down side, it also means increased property tax which might not be desirable to those folks who have no intention of selling their property.
If passed by the 2017 Colorado General Assembly, HB17-1349 will lower the Colorado Residential Assessment Rate from 7.96% to 7.2% in keeping with the required guidelines of the Gallagher Amendment of 1982. This is around a 10% drop in your assessment rate. The formula we follow is: ACTUAL VALUE X ASSESSMENT RATE (7.2%) = ASSESSED VALUE X THE MILL LEVY = TAXES.
PROPERTY TAX only represents approximately ONE-THIRD of your TOTAL TAXES. Please check your tax notice to see how your taxes are allocated based on the tax area your property is located.
For CONVENIENCE AND MONETARY SAVINGS TO THE TAX PAYERS, this year for the first time, we will be mailing a post card with your value and appeal information on it. This change will save the county around $40,000. Effective May 1st, you can see your full Notice of Valuation and the comparables we used to determine your value on our web site at https://assessor.adcogov.org
We at the Assessor’s office want to be considerate of our property owner’s time. In doing so, effective May 1, 2017 you can now appeal your property value using the on-line Appeal Process at https://assessor.adcogov.org. You will need to use the Account and Access Key numbers found on your Notice of Valuation postcard to begin the appeal process. The process is user friendly; just follow the prompts for easy online appeal.
NEW on our website, we have now added the ASSESSOR’S PROPERTY SKETCHES AND ASSESSOR’S PROPERTY PHOTOS. Using the GIS Interactive Map link on the website, they can be found through the “Advanced Web Map” application under Hyperlinks.
As appraisers, we know that raising value, which ultimately raises property tax, is not a popular process. But it is the only process, by Colorado law that we must follow. When everyone’s property is valued fairly and equitably, then everyone shares fairly in supporting the needs and responsibilities of our county. Our goal in the Assessor’s office is not only to insure that values accurately reflect the sales and market forces, but to reduce inequities among comparable properties.
THANK YOU FOR ALLOWING US THE PRIVILEGE TO SERVE YOU!