In my opinion, many properties I have looked at recently are still considerably over assessed.  As a result property owners are paying considerably more in taxes.  Personally on my property I was over assessed by almost 50% on one of my pieces of property.  I filed an appeal and fought the assessment and saved 50% annually on my tax bill.  By now, you should have received your notice of valuation on both your residential and commercial properties.  If it is higher than you think it should be check out my blog on what you need to know to get your value reduced.  I also put links to many of the metro county assessor’s offices to make it easier for everyone.  Feel free to link to this blog off your blog or site.  Also any comments or tips would be appreciated to help others viewing the blog.

I look forward to working with you in the near future on your private lending/ hard money transactions throughout Colorado.

Regards,

Glen

Colorado is different than most other states. Properties are reassessed every odd number year in Colorado (for example 2011, 2013, etc… are reassessment years).  All CO counties are the same in their appeals process.  Below is a quick guide to property appeals in Colorado and how to appeal your residential and commercial property taxes.  At the bottom I also put a link to the metro Denver county  property assessor websites.  It is worthwhile to evaluate your property to make sure it is properly assessed. If your property is over assessed you are paying too much for taxes

Should you protest your property value?
There are many reasons that someone should protest their property values. First, if you purchased your property in the last three years and your assessment is higher than your purchase price an appeal should be filed. Next, if your property is overassessed from the 2011 assessment and appeal should be filed.

Can you protest your own taxes?
Yes, I have protested my own taxes successfully in multiple counties. It is typically a simple process on a residential property. On a commercial property, the process is more in depth but an owner can appeal their taxes. I would suggest a formal appeal be filed by the owner and then setup a meeting with the assessor to discuss your concerns

When does an appeal need to be filed by?
June 1 or the next business day if 6/1 falls on a weekend

How is the value of my property determined?
For a residential property prior year sales are utilized. For 2012 property values, the sales prices of homes similar to yours which sold between July 1, 2009, and June 30, 2011, were studied. For a commercial property, along with the sales approach, the income and cost approach are also utilized. The county websites typically provide access to the sales that were utilized in the reappraisal process.

Are all counties in Colorado the same? Yes the assessment process is governed by state statute

How do I appeal my taxes?
Each county typically has a link on their website to forms that can be either filled out digitally or filled out and mailed in Jefferson county did a nice summary of the appeal process: http://jeffco.us/assessor/assessor_T80_R8.htm

Are there other resources?
Below are some links to the county websites that have the forms for appeals, etc…
Denver County Assessor: http://www.denvergov.org/assessor/ProtestingYourPropertyValue/tabid/378144/Default.aspx
Arapahoe County Assessor: http://www.co.arapahoe.co.us/apps/protest/residential/
Jefferson County Assessor: http://jeffco.us/assessor/assessor_T80_R8.htm
Boulder County Assessor: http://www.bouldercounty.org/dept/assessor/pages/default.aspx
Douglas County Assessor: http://www.douglas.co.us/assessor/documents/2011ReappraisalFactSheet.pdf

http://www.denverpost.com/business/ci_20429074/denver-housing-market-second-nation-quick-sales

I hope each of you are enjoying our nice spring weather here in Colorado (a little dry but the temperature has been great). Even though the weather has started to get nice and the economy is gradually improving, traditional bank lending guidelines are still challenging for most borrowers.
Fortunately Fairview is able to assist you and your clients with challenging loan scenarios that for one reason or another do not fit traditional bank criteria. Fairview is 100% privately funded so we have the ability to accommodate various situations. We are able to lend to borrowers with impaired credit (no minimums and prior Bankruptcies are okay. We can also accommodate borrowers with less than perfect financials. Finally, we are able to see the value of the property even if it is not performing as well as it should. Not only are we able to fund properties that most lenders cannot, we have flexible terms as long as five years with no prepayment penalties.
The beauty of working with Fairview is that we are a local lender with an A+ rating with the Better Business Bureau. I personally inspect all of our CO properties and make a lending decision. There are no upfront fees or long waits for appraisals since we underwrite everything in house. We are able to lend on both commercial properties and investment single family homes (no primary residences). We not only lend our own money, but we also hold and service our own loans. If you have a transaction I can usually tell you within hours if we are able to assist on the transaction (subject to final inspection). Below are just a few of our recent transactions. To learn more or fill out our one page application please visit www.cohardmoney.com or call me at 303..459.6061.

Colorado Commercial Hard Money: 150k SW of CO Springs
• Property was a free standing retail location
• Borrower unable to obtain conventional financing since he had a prior Bankruptcy due to his construction company
• Borrower needed money quick in order to consummate the purchase of the property; when he contacted Fairview he had 2 weeks to close and a traditional lender could not move this quickly
• Borrower needed a 5 year term to stabilize their financials and ultimately refinance with an SBA loan

Denver Residential Hard Money: 225k Denver, CO
• Borrower had an investment property owned Free and Clear
• Borrower needed funds quickly to help a startup business that he was focusing on
• Unable to get traditional lending since self employed in a new business
• Fairview able to close the transaction in a week and provide a five year fully liquidating loan to the borrower with no prepayment penalties

Boulder Residential Hard Money: 325K Boulder, CO
• Borrower owned property free and clear
• Borrower had sold a business and gotten into a dispute with the IRS regarding their tax liability. The IRS won the suit
• Borrower able to settle with the IRS for 60 cents on the dollar but needed money quickly
• Fairview was able to inspect and fund in under seven days saving the borrower several hundred thousand dollars

Above are just a few of the thousands of loans we have closed in both Denver and throughout Colorado. I look forward to working with each of you to earn your business and make this a profitable spring season for you.

To learn more about private lending in Denver and Colorado please visit: www.COHardMoney.com or call us at 303..459.6061

. Denver, CO $250,000, warehouse. Borrower owned property free and
clear, he had cosigned on a loan with an associate and the transaction went south (took borrowers credit below 500), borrower needed funds quickly to take care of back taxes and credit card bills. Fairview funded a 5 year loan with no prepayment
. Englewood, CO $125,000, retail/office, Borrower needed working
capital funds quickly to buy merchandise for the holiday. Her current bank was unable to respond quick enough. Fairview closed the loan in under 10 days and gave the borrower a 3 year loan with no prepayment
. Evergreen, CO 205,000, single family home with acreage, borrower
owned a cabin on acreage near Evergreen. Borrower needed cash quickly to take care of other financial obligations. Borrower had credit in the low 400s. Fairview funded the 3 year loan in under a week
. Fort Collins, CO 175,000, single family investment townhome.
Borrower had negotiated a settlement with the IRS and needed funds quickly in order to obtain the discount. Fairview funded to loan and the borrower saved over 50,000 in fees/penalties

Above are just a few of the many hard money transactions we have closed in Colorado recently. We are able to fund on both investment single family homes as well as commercial properties. I look forward to assisting
you and your clients with their funding needs. Have a great Holiday
Season.

Regards,

Glen

1) Evergreen, CO: small cabin on large acreage, borrower owned free and clear, needed money in order to pay past due taxes and get caught up on other bills
2) Centennial, CO: free standing commercial building, borrower had credit issues due to some prior late payments, needed money for working capital and inventory, structured loan as a 5 year loan with no prepayment penalty
3) Englewood, CO: investment single family home, borrower had bought as an investment, needed funds to get property ready for new tenant
4) Broomfield, CO: investment town home, borrower’s credit poor due to messy divorce, needed funds to settle with a creditor for a discount

Above are just a few of the hundreds of loans Fairview has closed both in Denver and throughout Colorado. We are a local lender with extensive knowledge of both the Denver market and markets throughout Colorado. Fortunately there is still time to close your loan before year end. Call us today at 303…459..6061 or visit us at www.COHardMoney.com

Fairview is pleased to announce the closing of the following hard money transactions in Denver. Fairview is a private lender specializing in private loans both in Denver and throughout Colorado. We are true hard money lenders and lend on the value of the property as opposed to the borrower’s credit. We are able to lend on both commercial properties and non owner single family homes. Fairview is the leader in Denver hard money and Colorado hard money transactions. We have an A+ rating with the BBB and there are never any upfront fees required prior to closing. For more information on our Colorado hard money and Denver hard money products please visit www.COHardMoney.com or call 303..816.7357

1) Broomfield, CO townhome $95,000
a. Investment single family home
b. Borrower had credit score below 500
c. Owned property free and clear
d. Needed cash quickly to satisfy a judgment
2) Colorado Springs, CO office/retail $125,000
a. Borrower had spent substantial cash remodeling property in order to retenant it
b. Borrower needed cash to pay down high interest credit card debt
c. Needed a 3 year loan in order to allow ample time to stabilize property and get a conventional loan
3) Englewood, CO non-owner single family home $145,000
a. Borrower bought house and paid all cash
b. Needed funds for another project
c. Self employed so showed limited taxable income
4) Aurora, CO condo $20,000
a. Borrower bought condo in cash 3 months prior for use as a rental
b. Credit low 500’s
c. Needed cash for other business needs
d. Unable to obtain conventional financing due to credit

For additional information please visit www.cohardmoney.com or www.fairviewlending.com or call us at 303.459..6061