Carrie Woodson, the Assessor for La Plata County, visited The Wells Group to share that the new property valuations are being mailed out to owners in early May 2023. Property values are reassessed every two years. This latest cycle runs from July 1, 2020 to June 30, 2022. La Plata County saw an average of a 20% increase in value. While this may seem high, it was actually the lowest in all of Colorado. In comparison, Archuleta County to our east had an 80% increase. Colorado has the 3rd lowest tax rates in the US.
It is important to understand that the method that the Assessor uses to calculate property value is not the same as how your Broker analyzes market value. In most cases the market value of your home exceeds the Assessor’s property value.
There are property tax bills being presented during the current Colorado General Assembly session, so what you receive in the mail may change between now and January 2024 when 2023 taxes are assessed.
There is a senior discount available to those over 65 years old and who have lived in their home for 10 or more years: https://www.co.laplata.co.us/departments/assessor_s_office/senior_citizen_exemption.php
There are also agricultural exemptions if you meet the guidelines: https://www.co.laplata.co.us/departments/assessor_s_office/agricultural_property/index.php
Homeowners are allowed to appeal the value through June 8, 2023 by following the process here: https://www.co.laplata.co.us/departments/assessor_s_office/appeals.php
This can be a complex topic, so please give us a call if you have questions – if we don’t know the answer, we always know who to call! Thank you for placing your trust in The Durango Team.
Post courtesy of The Durango Team.