A quick market update for buyers, sellers and investors in Boulder Valley real estate.
APRIL 2019
Rich's Boulder Valley Real Estate Report
New Property Tax Assessments Coming 
In Colorado, property taxes are re-assessed every odd numbered year and next week you will receive an updated 2019 tax assessment, which establishes the value of your property as of June 30, 2018. Because property values in our market have increased over the last few years, it's likely you'll see an increase in your tax assessment. During the study period for tracking values (June 30, 2016 to June 30, 2018), the average sales price of single family homes in Boulder County increased 16.6%, and the average sales price of attached dwellings increased 20%. 

The new tax valuation you'll receive is the starting point for calculating property tax over the next two years. If you think your assessment is inaccurate, you have until June 1st to appeal. Take these steps first:
1) Make sure the assessor's objective information is accurate. Check the square footage, the number of bedrooms and the number of bathrooms.  
2) Examine the details of the comparable properties the assessor used to establish your property value. It's not uncommon for the assessor to base value on unsuitable comparables. If you think this may be the case, call me. We can look for more appropriate properties to compare, and discuss specific reasons (such as deferred maintenance and location issues) that actually make your value lower than the assessment. 

3) Come to this no-cost   session on property taxes with Boulder County Assessor Cynthia Braddock, at RE/MAX of Boulder on May 13.   
Rising property taxes are the downside of rapid appreciation. Most of your property tax dollars fund public schools, which is a good thing, but if you feel the Boulder County tax assessor is trying to get too much of a good thing, I am happy to help with your appeal. Call or email me anytime to discuss.


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I appreciate your referrals and promise to provide excellent service that will make us both look good.  Feel free to forward this e-newsletter or my contact details to anyone interested in Boulder Valley real estate. Thank you.

Rich Gribbon | RE/MAX of Boulder
303-931-6979 | RichGribbon@BoulderCO.com

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