HOW IS MY PROPERTY VALUE DETERMINED?
For the 2017-2018 appraisals, the actual value assigned to vacant land, residential and commercial properties is based on sales and other market data from January 1, 2015 through June 30, 2016. This data gathering period called the base period, is prescribed by Colorado statutes. However, if an insufficient number of comparable sales occurred during that timeframe, the assessor is authorized to analyze sales that occurred up to five years preceding June 30, 2016. All sales or market data is adjusted for time to the June 30, 2016 appraisal date.
Changes in the economic data after the June 30, 2016 appraisal date cannot be considered until the next general reappraisal.
For 2018, property values will not change from 2017 unless there have been changes to the property, such as new construction or additions, or unless there has been a change in the use of the land.
For agricultural property, mobile homes and or businesses, the valuation process is explained in the following brochures:
- Classification and Valuation of Agricultural Property in Colorado
- Manufactured Homes in Colorado
- Property Valuation and Taxation for Business and Industry in Colorado
Want to see how Phillips County's assessed values compare to other counties around the state? Go to the Colorado Assessed Manuals page at:
https://www.colorado.gov/pacific/dola/colorado-assessed-values-manuals