The Fremont County Commissioners recently concluded three afternoons of hearings as the Commissioners sat as the County Board of Equalization to hear protests of valuations of real property. 2005 is a reappraisal year in Colorado. After property valuation notices were mailed out last spring, the staff at the Fremont County Assessor’s Office received protests during May. Notices of determination with any adjustments were mailed out by the end of June. Property owners then had until July 15th to protest those determined values to the Board of Equalization. The Assessor’s Office received nearly 1,200 protests during May of which 845 were approved, 156 denied, and another 174 protests were satisfied.
Eighteen protests were received by the Commissioners for Board of Equalization hearings. Two were later withdrawn. The Board conducted hearings on July 19th, July 26th, and July 27th. Values were adjusted downward on 10 parcels of property and reductions were denied for 11 other parcels. Property owners were notified by mail of the Board’s decision. They have the right under law to make a further protest to the State Board of Equalization if they are unsatisfied with their assessed values.
Commissioner Ed Norden said there were only seven parcels of commercial property that came to the Board for protest hearings. Norden said with commercial properties showing an average increase in assessed value of 22 percent this year it indicates two things. He noted first that the assessed values set by the Assessor’s Office with assistance from the Colorado Division of Taxation reflected what is happening in the marketplace in Fremont County, and secondly that many of the original protests were appropriately adjusted over the counter by the Assessor’s staff.
Commissioner Mike Stiehl is pleased that these more accurate valuations will mean that property taxes are as equitable as possible for everybody.
Commission Chairman Larry Lasha also praised the work of the staff and assistance of the Division of Taxation for their preparation and research in the protests heard by the Board of Equalization.
The Assessor must now prepare an abstract showing the estimated assessed property valuation countywide and by each taxing district. That is due by August 25th. Local government administrators will then rely on that abstract to begin 2006 budget preparations in determining what they might expect for property tax revenue next year. The Assessor must certify final assessed valuation figures by December 10th.
Eighteen protests were received by the Commissioners for Board of Equalization hearings. Two were later withdrawn. The Board conducted hearings on July 19th, July 26th, and July 27th. Values were adjusted downward on 10 parcels of property and reductions were denied for 11 other parcels. Property owners were notified by mail of the Board’s decision. They have the right under law to make a further protest to the State Board of Equalization if they are unsatisfied with their assessed values.
Commissioner Ed Norden said there were only seven parcels of commercial property that came to the Board for protest hearings. Norden said with commercial properties showing an average increase in assessed value of 22 percent this year it indicates two things. He noted first that the assessed values set by the Assessor’s Office with assistance from the Colorado Division of Taxation reflected what is happening in the marketplace in Fremont County, and secondly that many of the original protests were appropriately adjusted over the counter by the Assessor’s staff.
Commissioner Mike Stiehl is pleased that these more accurate valuations will mean that property taxes are as equitable as possible for everybody.
Commission Chairman Larry Lasha also praised the work of the staff and assistance of the Division of Taxation for their preparation and research in the protests heard by the Board of Equalization.
The Assessor must now prepare an abstract showing the estimated assessed property valuation countywide and by each taxing district. That is due by August 25th. Local government administrators will then rely on that abstract to begin 2006 budget preparations in determining what they might expect for property tax revenue next year. The Assessor must certify final assessed valuation figures by December 10th.