Denver Property Taxes: Should you Protest your Home Valuation?

4-21-09

Today’s Denver Post has a great map and article on the Denver Metro home values broken down by Denver neighborhood and general home values for 5 surrounding metro counties.

Read the full article by Christopher N. Osher in today’s Denver Post at:

http://www.denverpost.com/search/ci_12187365

Here are some valid reasons to protest:

· There are errors on your property record that reflect inaccuracies and therefore overvalue your home – Good examples are the county records include improvements such as a finished basement and yours is unfinished or indicate that your square footage is considerably larger than is true, and so on.

· The assessor’s record indicates your acreage is incorrect – i.e. – more acreage than actually exists.

· You have evidence to believe that the assessor’s office has over-valued your home.

One good reason not to protest:

· You are selling in the near future – While real home value and tax value can be largely disconnected – do you really want potential buyers looking at county records only to find a price considerably less than what the current market value commands? Remember, too, that county record data is usually about a year old.

Options if you believe your home value is unfair or inaccurate and decide to protest:

· Hire an appraiser. If the appraisal indicates a decrease in home valuation this increases your odds for a favorable outcome.

· Gather as much information as possible. Search comparable SOLD properties on line and gather evidence to support your case.

· Contact your Realtor® to run the comparisons and use the collected information to support your case.

· Read the protest procedures for your respective county thoroughly and provide the exact information required.

· Check the dates and deadlines for filing your protest.

Where to find additional information on protesting your Denver, Arapahoe or Douglas County property valuation:

Denver County:

http://www.denvergov.org/Assessor/ProtestingYourPropertyValue/tabid/378144/Default.aspx

Arapahoe County:

http://www.co.arapahoe.co.us/Departments/CMS/news/2005/April/2005_protestbegins.pdf

Douglas County:

http://www.douglas.co.us/assessor/The_Protest_Appeals_Process.html

This is by no means intended as legal or tax advice. Please contact your tax or legal consultant for advice.

Michelle A. Potter

Broker Associate