Notices mailed out to Summit County property owners this week
Notices of valuation from the Summit County Assessor’s Office went out to property owners on Wednesday, as state law requires county assessors reevaluate property values every other year.
“Most Summit County properties saw an increase in market value since the last reappraisal in 2017,” said Summit County Assessor Frank Celico in a news release. “Sale prices continued to climb throughout the county during our data collection period from July 1, 2016, to June 30, 2018, with certain areas of Summit County seeing substantial increases.”
According to the 2019 revaluation, the average value of a single-family home in the county is now $1.1 million. At the same time, the average condominium is valued at $499,000. In Breckenridge, the average single-family home rose to $1.3 million and the average condo is now $587,000.
The highest-valued single-family home is at $8.8 million and condominium at $2.9 million. Both are in the Breckenridge area. Outside the Breckenridge area, the highest-valued single-family home and condominium are now at $4.4 million and $1.9 million, respectively. The areas in Summit County that saw the largest increases in market value of residential property since 2017 are Dillon Valley, Wildernest and Keystone.
The assessor’s office values properties using sales recorded during the data collection period. There were 2,204 qualified sales of condominiums and 1,125 of single-family homes in the county.
As explained in the notices, taxpayers can appeal their valuations online, in person or by mail with the Summit County Assessor’s Office throughout the month of May. Mailed appeals must be postmarked by June 3. In-person appeals must be delivered to the Assessor’s Office by 5 p.m., June 3. Online appeals may be filed through the website SummitCountyCO.gov/assessor until 11:59 p.m. June 3.
Colorado taxpayers over the age of 65 as of Jan. 1, 2019, who have lived in their homes as primary residences for at least 10 years may also be eligible for the Senior Property Tax Exemption. To apply for the exemption, go to the assessor’s office in person or go online. For more, call the office at 970-453-3480 or email firstname.lastname@example.org.
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