The Assessments are Coming!! The Assessments are Coming!!
Most of us in Colorado can expect to see new property valuations arriving in our mailboxes next week. Don’t panic.
There’s always been a disconnect between the assessed value of property in Denver and the actual market value. There are a lot of reasons for the disconnect, many of which have to do with the complicated system, the age of much housing stock in Denver, the fact that assessors are using comparables that are anything but new (the new assessment is based on comparable sales for the 18 months ending June 30, 2008…in Real Estate terms that’s sometime in the Jurassic period), and the volatility of the real estate market itself. Read more about property assessments and what you should do when you open the envelope, in the Denver Post.