Real Property Valuation

In the state of Colorado, real property is reappraised by County Assessors every two years in the odd-numbered years. The data used to establish these values is taken from the 18 to 60 month period prior to June 30 of the even-numbered year preceding the year of reappraisal. In the intervening, or even-numbered year, only property that meets certain criteria, such as new construction or remodel / addition, is revalued. In Summit County, a Notice of Valuation postcard is sent on May 1 in reappraisal years. The Notice of Valuation is sent with the tax notice in intervening years. An NOV postcard is only sent in intervening years if the value is changed. Property owners may appeal their values each year from May 1 through June 1. The Assessor’s Office reviews the appeals and sends a Notice of Determination on June 30, which outlines the decision and further appeal rights.

Reappraisal


2017 is a reappraisal year. Notices of Valuation were sent on May 1, 2017. Colorado statute requires the Assessor to use data from a minimum period of 18 months prior to June 30, 2016 to determine 2017 values. If that data is not sufficient, the Assessor may use additional data, in six month increments, from up to 60 months (5 years) prior to that appraisal date. For most property types in Summit County, the Assessor used 24 months for the 2017 reappraisal. The Assessor is specifically prohibited from considering data from after June 30, 2016.

The Summit County Assessor notifies owners of changes to value via a summary Notice of Valuation (NOV) postcard. A long form Notice of Valuation and comparable residential properties can be viewed in the Notice of Valuation Archive.

The documents below explain current reappraisal analyses.