Grand County Property Valuations are coming soon! Property owners will receive notice of property valuations May 1. All property in Colorado is revalued every odd numbered year as required by state statute. The valuation can be confusing because it is not a reflection of the current market value. The appraisal data used to establish real property value is from the 18 month period beginning January 1, 2011 and ending June 30, 2012.
This time frame is also mandated by state statute that prohibits the use of appraisal data after June 30, 2012. Property tax notices are billed in arrears and are sent in January of the following year. So you will receive a tax bill for this year next year. The tax is not based on your actual value but the assessed value which is calculated by applying an assessment percentage to the actual value. The assessment percentage for residences is projected to be 7.96% and the assessment for vacant land and commercial property is 29%.
If you don’t agree with your assessed value when you receive it you may protest it by filing an appeal form with Grand County. For more information on the property valuation process or to obtain an appeal form visit the Grand Count Assessor Department website.