Every odd year the County Assessor, not the Treasurer, must determine property value based on the previous year in June. For example, the County Assessor is using June of 2022 property values to determine updated property tax assessments, which will be mailed out in May 2023. The timing of all this is based on state law.
The concern I have right now is property tax assessments are predicted to be up 35% to 50% statewide. This will have a negative effect on the state economy, residential taxpayers, and business taxpayers. I am encouraging the state legislature to pass legislation to either freeze the assessment for 2023, or to lower the assessment rate further. I’ve been contacting JeffCo legislators. For example, based on the preliminary new numbers, my property taxes will increase by approximately $1000 per year.
If business property taxes go up, or rental property taxes go up, that dollar amount is usually passed on to the consumer. If the state legislature wants encourage affordable housing and supporting small business owners, allowing property taxes to increase 35%-50% is not the answer.
Please contact the Governor, your state rep and/or your state senator. Time is running out for the legislature to act.
See the following link for phone numbers/emails for the state legislature: https://leg.colorado.gov/legislators
See CBS4 Colorado Interview:
See Gov Polis Interview on Property Taxes