Protesting Your Property Tax Valuation - FAQ
1. As a homeowner, don't we want to see our property values go up?
Answer: Your property's assessed value isn't the same as "fair market value". You pay taxes on your assessed value. If you don't mind paying higher taxes, then by no means, don't protest your taxes!
But if you'd like to save some money (don't we all?), you can try and protest your assessed value (and hopefully lower your taxes).
When/if you're going to sell your home, you'll be listing your home for "Fair Market Value" (which is what a ready, willing, and able buyer is going to pay in today's market, based on similar recent sold comps).
Example: My home's assessed value is now supposed to be $429,000; however, if I were to list it for sale today, I'd likely list it in the $455-460 range (what similar homes have been selling for).
2. I want to sell my home in the near future. Should I still protest my taxes?
Answer: That's up to you. As I mentioned above, your assessed property value doesn't have anything to do with Fair Market Value. If you do sell, then your higher taxes are going to affect whomever buys your home. Some people protest them anyway...just as a benefit for the next homeowner.
3. But home prices have been skyrocketing, so aren't higher taxes inevitable?
Answer: Yes and no. Boulder County uses values from a 24 month period ending on June 30, 2018. So almost a year ago, back to nearly 3 years ago. The only way to know for sure, is to look at the comps from that time period.
Example: There are some good "apples to apples" comps in my neighborhood that sold in the low $400s in early 2018. So I'm definitely protesting!
4. Why do I need your help? Can't I just do this by myself?
Answer: Of course! You can certainly do this on your own, and all real estate sales are public record. You can also contact your own REALTOR. However, I'm able to pull comps from the MLS and target the best "apples to apples" comps. The county assessor may not do that. I do this as a FREE service to anyone interested.
Hope this helps!
If you'd like my assistance, please shoot me an email: sally@sallygrenier.com with your property address, account # and PIN if you have it.
Sally