#172: How Are Property Taxes Calculated?
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The Denver Apartment market is at an all-time high. Unfortunately, that means the tax assessments that are mailed to owners on May 1st will also be at all-time highs. We want our clients to be prepared, informed, and proactive.
We invited Denver County\'s Assessor, Keith Erffmeyer, to join the podcast this week to discuss how residential real property is valued and best practices for protesting your valuation. Keith goes over everything apartment owners need to know about property taxes and the valuation process and presents a preview of 2021 assessments for Central Denver apartment buildings. This presentation was specifically tailored for Central Denver Apartment owners.
As a fee-based service, Calibrate Real Estate has had over 90% success appealing tax valuations for our clients which results in a decrease in valuation! Hiring someone who knows how to navigate the tax protest and appeal process is key.
The stakes are high this year for Property Valuations.\\xa0 More than ever, you\\u2019re going to want to ensure your new valuation accurately reflects the market, and that the correct comps were used in determining your value.\\xa0 If you have any questions about your new values, we are available to help!
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Download Keith\'s slide presentation
BONUS: 8 Tips directly from the Denver Assessor if you\\u2019re going to protest your valuation
1. DON\\u2019T consider the current market
2. DO remember the date of value (6/30/20)
3. DON\\u2019T protest the taxes (you technically don\\u2019t know what they\\u2019re going to tax you)
4. DO consider the value
5. DON\\u2019T consider the rate of increase
6. DO review the property characteristics
7. DON\\u2019T simply say \\u201cthe value is too high\\u201d
8. DO provide evidence: sales, photos, descriptions of issues negative to the property, estimates of the cost to cure, rent rolls, etc.
About Keith: In 1994 Keith joined the Assessor\\u2019s Office as an intern and worked his way diligently through the ranks within the office. He has been a Certified General Appraiser for years and in 2005 he became the Commercial Section Supervisor and later was promoted to the role of Deputy Assessor and Chief Appraiser. He has served as Denver County\\u2019s Assessor since 2014.
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Written & Produced by Anne Russell
Hosted by Kyle Malnati
Calibrate Real Estate
2425 S. Colorado Blvd #250, Denver, CO 80222
http://www.CalibrateRE.com