Appeal Property Tax Valuations – 2023 – Summit County, Colorado

May 22, 2023

How To Appeal – 2023 Property Tax Valuations – Summit County, Colorado

Have you recovered from the shock of the recent property tax valuation you received in the mail? Don’t despair. In the following, I will hopefully provide enough insight, links, procedures, etc. to help you through successfully appealing the Valuation. (However, let me be clear, I do not make any guarantees or assurances that the Assessor’s office will decrease your valuation. All of the information below is provided in the hopes of shifting the odds in your favor.)

First, the initial deadline is: JUNE 8, 2023

This deadline is NOT NEGOTIABLE, so do not miss it!

Main website: https://www.summitcountyco.gov/86/Assessor

BEFORE you start this process, please take the following (from County Assessor Lisa Eurich) into consideration:

  • The amount in the postcard is an estimate and it is overstated.

    • We cannot provide an accurate calculation of property taxes until we know the actual tax rates. 2023 mill levies will be set in November once the taxing entities create their budgets for 2024.

  • Value reductions of $15,000 and $30,000 will be applied to all residential and commercial improved properties, respectively (HB22-238)

  • Colorado Governor Polis introduced a ballot initiative that would increase the residential value reduction from $15,000 to $40,000 and further lower the statewide residential assessment rate from 6.765% to 6.7%.

  • The assessor’s office does not set the tax rates. We only set property values.

      • Under the ‘Assessment Resources’ tab (see graphic) there is a link to the 2023 List of Taxing Entities that includes contact info and websites.
      • Taxing entities hold public budget meetings, the dates of which are available on their websites, to determine revenue utilization for the following year.
      • Property Taxes – https://www.summitcountyco.gov/86/Assessor

Taking all that into consideration, if you still would like to appeal, keep reading.

Where to start?

STEP 1:

Look at all the details the Assessor used to come up with their valuation.

  • On the right-hand side, search by owner name and enter your last name (or entity name).
  • When the information on your property comes up, verify your name, mailing address, property address, etc. are correct.
  • Just above the property address will be “SCHEDULE” with a schedule number. Verify that the SCHEDULE number is the SAME number that is on the postcard received in the mail. If it IS correct, click on SCHEDULE:

  • A new window will open with detailed information about your property. Verify all the information is accurate. Tax Assessors do not go inside the property, so the details are important. It’s not unusual to find incorrect information. Depending on the information, it can definitely impact the Valuation.
    • Is the property type correct?
    • Are the number of bedrooms/bathrooms accurate? Etc.

STEP 2:

This is the first year that Summit County has used the Mass Appraisal philosophy.

  • This means than a MEAN of all “like” Summit County properties has been used to come up with your property’s valuation. “Like Properties” are residential to residential, commercial to commercial, etc. There is no distinction between condition, location, marketability, etc.
  • Another way to look at this is that a 50 year old subdivision and a 10 year old subdivision would not initially be “weighted” to give one a higher (or lower) valuation. This is where your REALTOR can potentially help you. Ask them to pull up sales comps that are actually equal to your property ie same subdivision, same year built, ski in/out (or not), etc. If you do not have a relationship with a REALTOR, please reach out to me at: Sue Runnells Contact Info

I will happily provide assistance if possible!

STEP 3:

For Valuation purposes, Sales Comps must fall within this date range:

  • July 1, 2017 to June 30, 2022. This is by law, so any request for Appeal consideration using data outside of these dates will be automatically dismissed.
  • 2021 & 2022 Sales Comps will possibly be weighted heavier than 2017-2020, but that is not a guarantee.
  • From the County Assessor:

Valuation Information: https://www.summitcountyco.gov/118/Real-Property-Valuation

      • Time groups and rates utilized in the three models (residential single family, condo, and vacant land) are available on the assessor’s website at the link above.
      • The regression values are data driven. So, owners are advised to first review and confirm their property’s data.
      • Property data can be found by clicking the ‘Property Information Search and Maps’ link – http://gis.summitcountyco.gov/Map/
        • Sales comps are provided via the NOV Archive Search, however MRA utilizes ALL sales in the valuation.
        • ‘Helpful Links’ section of NOV Viewer has links to the regression value calculation ladder and sales comp grid showing adjustments being applied to the sales.
        • Our goal (in the assessor office) is for the sales occurring within the two years prior to June 30, 2022 to support the regression value.
        • Sales submitted with appeals are considered, and if the value range indicated by those sales (or the best sales found within the data collection period) produces a lower median value than the regression value, the regression value will be adjusted (in most instances).

STEP 4:

  • If you are working with me, I will pull together sales data from the allowable dates, doing my best to match like properties to your property. For example, if your property is in The Highlands in Breckenridge, I would hopefully be able to eliminate properties in Summit Cove in Dillon. If that doesn’t work in your best interest, then maybe I’ll compare locations, etc. There is no guarantee that my data analysis will result in sufficient information for a successful appeal, but I’m happy to provide.
  • If you have a REALTOR that you have worked with, please reach out to them for assistance in this process. Having a local person with knowledge of the industry will be invaluable and definitely in your best interest.

STEP 5:

  • DO NOT file your appeal online. The online process does not allow for attachments or documents to support your assertion of a reduced valuation. Send your appeal via email to: assessor@summitcountyco.gov
  • When presenting your appeal, make sure to provide the back-up documentation. Stick to the facts. The Assessor will evaluate whatever you provide – as long as it falls within the above stated parameters and is based on fact.
  • Additional Information from the Assessor’s Office:

Appeal Info – https://www.summitcountyco.gov/382/Appeals

      • June 30, 2022 is the appraisal date.
      • Sales and market conditions occurring after this date cannot be considered.
      • All sales used in the multiple regression analysis are time adjusted to account for differing market conditions between the sale date and the appraisal date of June 30, 2022.
      • Appeals can be mailed, emailed or submitted online. Email is probably best way since you can include attachments.
      • Appeals must be received or postmarked by end of day on Thursday, June 8th.
      • Commercial owners should contact John Zimmerman to discuss their valuation. Should they decide to appeal, it must be submitted to the County Assessor’s office.
      • John Zimmerman with Value West: 303-954-8535 / johnz@valuewest.com
      • Assessor office renders decisions and Notices of Determination (NOD) are mailed Friday, June 30th.
      • Owners who feel the value on the NOD is not reflective of their property’s value on June 30, 2022 can appeal further to the County Board of Equalization (CBOE).
      • Appeals to the CBOE must be submitted to the CBOE by Monday, July 17th (very short turn around time from receiving the NOD).

One final note: The cutoff for sales comp consideration was June 30, 2022, BEFORE most of the current STR permit restrictions/ordinances were enacted. Because of this, access to (or lack of access to) STR permits was not taken into consideration, nor will it be until the next Valuations are produced in 2025.

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