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    3 Things You Should Know About Commercial Property Values in Colorado

    3 Things You Should Know About Commercial Property Values in Colorado

    April 5, 2021

    Assessors throughout the state of Colorado released values on properties on May 1, 2019. Here are three key pieces of information every property owner and manager should know about when looking at your notice of value.

     

    1. There are pitfalls in using technology for assessment: Assessors follow a process of mass appraisal to determine assessed values, classifying lots of “similar” buildings together. Our job is to explore each property individually and identify if the model has over-estimated the value you pay taxes on.
    2. Assessments are based on a specific time, not current value: The notifications of value that assessors shared are from a base period of January 2017 – June 2018, not today’s value. If the market has been increasing in your area, the assessor’s value should be a year old and your notice of value should reflect that. Be cautious: you may be paying too much because the value correlates to today’s value, not June 2018.
    3. If you’re concerned about your value, you may have a case, but you need to file by June 3: Assessors evaluate a host of information as part of an appeal including cost sales comparison and income approaches. If you’re unsure about next steps and interested in finding out more, we can help. Our team has been appraising and appealing commercial real estate for more than 30 years in Colorado and other states. Simply reach out via the form below and we’ll be in touch ASAP.
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    Consultus Asset Valuation

    Since 1991, Consultus has specialized in commercial and personal property tax consulting, expert witness testimony, real and personal property appraisals, highest and best use analysis, brokerage and investment counseling and cost segregation studies.

    Our MAI designed on-staff appraisers make us a unique property tax consulting firm in Colorado. Our valuation team has over 75 years of experience gathered in governmental agencies and national firms. Although our company focuses on western states, we have an affiliation the US Tax Consulting Group that allows us to provide service to clients nationwide.

     

    Address:

    68 Inverness Lane East, Suite 103

    Englewood, CO 80112

    Phone: 303-770-2420

    Fax: 303-770-2430

     

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      Since 1991, Consultus has specialized in commercial and personal property tax consulting, expert witness testimony, real and personal property appraisals, highest and best use analysis, brokerage and investment counseling and cost segregation studies. Our valuation team has over 75 years of experience gathered in governmental agencies and national firms.

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