This year is a reappraisal year for all real estate in Colorado, according to the Summit County Assessor’s Office.

Every two years, property values are reassessed to make sure property taxes are fair and up to date, the Assessor’s Office said in a news release. The updated property values, which are used for property tax purposes, are based on detailed studies of the local real estate market, including recent sales, construction costs and rental income, the release states.

Summit County’s team of licensed and certified appraisers have been inspecting properties, reviewing sales records, confirming rental rates and measuring value changes across different property types and regions, according to the Assessor’s Office. The team also reportedly relies on accurate real estate data including information submitted on the TD-1000 transfer declaration form.

The main question in a reappraisal year is, “What was your property worth on June 30, 2024, based on its condition and use as of Jan. 1, 2025,” the release states.

Notices of valuation were mailed May 1. Property owners can expect to find a notice of valuation postcard at their home’s listed mailing address or P.O. Box with information about the previous and current property values, the amount of change between the values, the property’s classifications and how to appeal the property valuation, according to the Assessor’s Office.

All 2025 values, including a property owner’s data on file with the assessor can also be viewed at apps.summitcountyco.gov/NOVArchiveViewer.

The Assessor’s Office does not set property taxes, but can estimate people’s 2025 property taxes, which come the following year, the release states. But if voters approve new taxes or debt measures in the November election, the actual tax amount might be higher than the estimate.

Anyone with questions about their property taxes or assessed values can contact the Assessor’s Office at 970-453-3480 or visit the Assessor’s Office website at summitcountyco.gov/services/assessor.