Fremont County residents will be receiving their 2011 Notices of Valuation in the mail in the coming days. The Fremont County Assessor’s Office completed the task of mailing the valuation notices Tuesday to all property owners. 2011 is a reappraisal year for all 64 counties in Colorado. Fremont County, like most Colorado counties, is showing a decrease in residential property values as compared to the 2009 appraisal figures. This is the first statewide reappraisal that reflects a drop in values since the recession began in 2008. The Colorado Assessors’ Association reports that a handful of smaller, rural counties such as Conejos, Kit Carson, and Mineral, had increased or steady values in the residential category. The Assessors’ Association says almost all counties are reporting a decrease in commercial values, a decrease in new construction, and an increase in agricultural land values.
Fremont County Assessor Stacey Seifert says that as required by law, assessors must only look at sales activity during the data collection period. The data collection period for the 2011 reappraisal is January 1, 2009 thru June 30, 2010. Assessors cannot consider any market activity after the June 30, 2010 date. In counties where there are not enough sales during these 18 months, assessors can look at earlier sales (prior to January 1, 2009). Assessments of all property, other than agricultural land, must reflect market value based on the sales that occurred during the data collection period.
Fremont County taxpayers may appeal their values to the assessor between Tuesday, May 3rd and Monday, June 6th by mail or in person. Taxpayers not satisfied with the decision of the assessor can then file a protest to the County Board of Equalization. Those protests will be heard from Friday, July 1st to Friday, August 5th. Taxpayers who still have complaints will have 30 days after they receive a decision from the County Board of Equalization to file an appeal with the State Board of Assessment Appeals, district court or the Board of County Commissioners for binding arbitration.