Valuation Process

HOW IS MY PROPERTY VALUE DETERMINED?

Property valuation in Colorado is valued on a 2-year cycle. The actual value assigned to vacant land, residential and commercial properties is based on sales and other market data from January 1st, of every odd year, through June 30th, of the following even year (an 18-month period, i.e. January 1, 2023, to June 30, 2024). 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 for up to five years preceding June 30th, of the even year. All sales or market data is adjusted for time to the June 30th appraisal date.

Changes in the economic data after June 30th of the even year or an appraisal after that time cannot be considered until the next general reappraisal.

For even years of the 2-year cycle, property valuations will not change from the odd year valuation 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.