Property Management Education

How to Protest Colorado Property Taxes

Key Points:

  • Property tax reassessments have remained relatively steady until recent years.
  • It is possible to protest your property taxes, but it would apply to the following year.

Colorado property taxes can be downright confusing at times. If you own property in Colorado, you may have recently received a notice of reevaluation of property taxes for the coming year. What does this mean for Denver landlords, and how can you protest the increase in your property’s taxes? Keep reading to find out. 

How Does This Property Tax Reassessment Differ From Past Years?

What Denver landlords need to know about property taxes

Property tax reassessments over the past years in the state of Colorado have remained relatively steady. We’ve seen slight increases in taxes, but nothing major or concerning for Denver area landlords. 

Recent years, there has been a different story. We’ve seen increases on average anywhere from 40-60% of property values! 

This is a huge increase, and it is worth taking the time to look into if you own property in Colorado. Evaluate if it is in your best interest to protest your property taxes.

Here’s what Denver landlords need to know before protesting your taxes:

Find Your Notice of Evaluation

The first thing you need to do is to find out what your property's value is according to the county. Most Colorado property owners will receive a postcard size notice from your county assessor’s office noting the current and new valuation of your property for the upcoming year.

You’ll also receive some additional information on the property and instructions on how to protest your taxes, as each county has slightly different instructions. 

If you did not receive this notice, you can still find out this information by going online to your county assessor’s website. Once you access this website, you’ll be able to enter the property’s address and find out all of the same information outlined above. 

Review for Accuracy

Once you’ve obtained your property valuation information, the next step is to review it for accuracy

Make sure the county is accurate on property characteristics. Pay attention to these key characteristics:

  • Square footage
  • Condition
  • Bath count
  • Use/classification

Denver property management

Review Denver Neighborhood Comps

If all of these property characteristics are correct, you’ll want to look at the actual estimated value of your property. If the county is overestimating the value of your Denver property, you have a good chance of successfully appealing your property taxes. 

For example, if two neighboring properties recently sold for $200,000 and $205,000 respectively, and the county says your property is worth $300,000, this could be a red flag. You can use this neighborhood comparable information as evidence. Show the neighborhood property data to show the county.

If you are a client of Grace Property Management, we are happy to provide this data to you as a full-service real estate sales business. We can tell you exactly what neighboring properties are selling for and give you the data you need to bring to the county. 

Not a current client? Learn more about the benefits of our Denver Property Management service.

Appeal Denver Property Taxes Online or by Mail

If you notice that the county is not evaluating something correctly, and you decide you’d like to appeal your Denver property taxes, you can do this online or by mail. 

Every county handles property tax appeals differently, so make sure to read the appeal instructions carefully to avoid any unnecessary delays. If you are confused throughout the appeal process, don’t be afraid to call the Assessor's Office and speak to a someone who can answer any questions you may have. 

In your appeal, make sure to be very detailed in your reasoning for appeal and provide the necessary evidence. Simply saying that the county’s valuation of your property is too high is not enough. Explain why the county is wrong in its valuation of your property, and provide the necessary evidence to back up your claim. 

Remember, Colorado property tax appeals are free, so there’s no excuse to not taking advantage of this!

Reassessments Are for Next Tax Year

The taxes for 2021 have already been paid. If you are successful in appealing your taxes, it’s not going to change your past tax bill. It will affect next year’s property tax bill. The deadline for appealing property taxes in Colorado is typically early June. Property taxes are evaluated every two years, so if you miss this window to appeal, you won’t be able to appeal again for another two years. 

At Grace Property Management, we want to do whatever we can to help you make sense of Denver property taxes for this year, and years to come. Stay up to date with all the latest property management news in the Denver area by checking out our Learning Center and blog. Have specific questions about your property? Contact Grace Property Management today!

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