How to protest your Colorado property taxes
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
I hope everyone has had a healthy and prosperous 2011. Fairview has closed hundreds of private/hard money loans this year both in Denver and throughout Colorado (below is just a small sample). Since Fairview is privately funded we are able to close loans quickly. All underwriting is done in house and we lend our own funds.
Due to our closing speed, there is still time to close your loan in 2011. Our process is simple. Call (303.459..6061) or e-mail me with details or fill out our one page application at www.cohardmoney.com .
There are no upfront fees or appraisals required. We can handle all credit situations since we underwrite on the property. We’ll give you an honest yes or no in 24 hours or less. Below are just a few of the hundreds of loan transactions we have funded.
. 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
Fairview Lending is pleased to announce the recent closing of hard money commercial and residential loans both in Denver and throughout Colorado. Fairview Lending is the leader in Denver private loans and Colorado private lending. As always we only lend our own money and there are never any upfront fees. We are located in the Denver metro and can inspect and close your transaction quickly. For more information on our recent closings please visit: http://www.cohardmoney.com/closings.php or call us at 303..459..6061 to discuss your transaction
Colorado’s leading local private lender
Hope each of you is off to a prosperous 2011. I’m commonly asked what makes Fairview different than other lenders. Below are some of the highlights:
• No upfront fees or appraisals (we do an inspection free of charge)
• Quick closings on both residential (No primary residence; strictly investment properties) and commercial properties
• Local Lender only lending our own money; we provide honest answers quickly
• Ability to close transactions throughout the state of Colorado
• One page loan application
• Hard money/private money loans is all we do
• No Credit score minimum; we are underwriting on the property as opposed to the borrower
• When you call Fairview, you will talk directly to the decision makers.
• A+ rating with the BBB
Fairview has recently closed a number of hard money loans throughout Colorado during 2011. Below is just a small sample
• 185k Commercial Warehouse, Denver: Borrower leased building to medical marijuana operation
• 100k Agricultural Land, Montrose: Borrower owned free and clear, needed quick cash to take care of outstanding late payments with other creditors
• 25k Investment Condo, Aurora: Borrower lived out of stats, had free and clear investment condo in Aurora, needed funds for another property
• 125k Investment townhome, Fort Collins: Borrower paid cash for property, needed funds quickly to settle with the IRS
• 200k Single family home, Red Feather Lakes: Borrower needed cash for working capital for another business, self employed with credit dings
For more details please call me at 303..459.6061 or visit our website at www.cohardmoney.com.
Fairview is still closing deals. We have ample capital to quickly fund transactions on both residential properties (only investment, no primary residences) as well as commercial properties. Recently Fairview has closed a number of private loans throughout the state of Colorado. Below is just a small sample of our recent closings:
1) Aurora, Colorado: Borrower had bought property in cash, owned free and clear, needed cash for another transaction, had a bankruptcy 3 years earlier and credit was impaired, closed the loan in less than 10 days
2) Fort Lupton, Colorado: Borrower constructed investment property with their own cash, needed cash to take care of unpaid bills, unable to get conventional loan since self employed.
3) Denver, Colorado: borrower had an investment property that was used as a rental, needed a mid term solution (2-5 years) to allow them to catch up with outstanding IRS issues and straighten out credit
4) Fort Collins, CO: Borrower needed working capital for business. Business not performing to potential prior years due to economy.
Above are just a few of the hundreds of hard money / private money loans we have closed in Denver and throughout Colorado. Fairview is different than other hard money lenders; we only lend our own money and there are no upfront fees. We provide honest answers quickly and fast closings
There has been a recent uproar regarding agricultural exemptions. Should a developer who is unable to develop their platted subdivision be eligible for a agricultural tax exemption? A number of recent articles in the Denver Post have discussed this issue (Link to Denver Post Articles ). In my opinion the way to solve allot of the agricultural tax exemption abuse is to make the parameters more stringent. The following changes would solve the majority of problems: 1) make a minimum lot size for agricultural exemption (lets say 40 acres) 2) require anyone who receives the agricultural exemption to maintain the agricultural zoning for twenty years. If the zoning is changed, then all taxes at the normal rate for prior years become due and owing. These two changes will solve the majority of issues with agricultural zoning in Colorado.
Fairview Lending is a private Colorado Lender who has made hundreds of private loans on both residential properties, agricultural land, and commercial properties. To learn more please visit our website at www.cohardmoney.com or call 303…459…6061
Colorado is different than many states on how Colorado property values are assessed. The assessments are done on a two year cycle, so the value we receive in May 11 will be based on sales from 1/1/09 to 6/30/10, the current taxes we are paying are last years taxes based on 08 to 6/09 sales. Many areas in Colorado did not see substantial property declines until late 09 and 2010 so therefore there has likely not been much impact on the tax bill for this cycle. Here is a link to a Denver Post Article that discusses this topic more: Property values lagging behind economic slump, assessors say
http://www.denverpost.com/news/ci_17223038#ixzz1CMNmvlKF
Fairview Lending is a private Colorado Hard Money lender. We make Private loans both in Denver and throughout Colorado. For more information please see: www.cohardmoney.com or call 303..459..6061
Fairview is still able to close your hard money loan by year end. In honor of Thanksgiving, Fairview is not charging any upfront fees. This includes appraisal fees, underwriting fees, and due diligence fees. Fairview is Denver’s Private Lending solution. We are able to close loans on non owner occupied single family homes, condos, and general purpose commercial properties. We are only lending our own money and can close quickly. For more information please visit www.cohardmoney.com or for general information on private lending please visit: www.fairviewlending.com