Breakstone: Summit County assessor explains property valuation process
The property value assessment process explained
The biannual assessment of property in Colorado has occurred. All counties in Colorado revalue all property this year. Notices were mailed May 1. The last day to appeal the value of your property is June 3.
The sales study period for this revaluation is July 1, 2010 to June 30, 2012. Statute requires 18 months of sales be studied. In Summit County we use a full 24 months so that we have consistency between valuation periods.
With all properties, we are allowed to go back as much as 60 months. In a county like Summit where sales in the study period could be insufficient for a particular category of property, going back beyond the two years is sometimes necessary.
Participate in The Longevity Project
The Longevity Project is an annual campaign to help educate readers about what it takes to live a long, fulfilling life in our valley. This year Kevin shares his story of hope and celebration of life with his presentation Cracked, Not Broken as we explore the critical and relevant topic of mental health.
With commercial properties we must also analyze the cost and income approach, as well as the sales comparison method. We depend on our taxpayers to provide us with their rental income and expense information to accurately determine a value using the income approach.
Residential properties, by constitutional amendment, can only be valued with the sales comparison approach. Summit County has many unique properties. Unlike metro areas, there are few subdivisions with properties that are very similar. In many of our neighborhoods the properties vary widely in style, size, lot characteristics, view, river or stream amenity, golf course frontage, construction quality and design.
With this variation, sales comparables used for analysis for each home in a neighborhood could vary widely.
It is our goal for our taxpayers to understand this revaluation process. We welcome your call or visit here in the assessor’s office. Our phone number is (970) 453-3480. We are open for customer visits from 8:30 a.m. to 4:30 p.m., Monday through Friday.
Beverly Breakstone, Summit County Assessor
You get what you vote for
OK, Summit County, almost 61 percent of you voted for President Obama last year, believing in his vision of “Forward.” It’s a good time to look at what you got for your vote. Four months into his second term, apparently “Forward” means this:
$16,8 trillion in ever-increasing debt, and Obama and the Democrats won’t even acknowledge that debt is an issue, demanding trillions more in deficit spending in the near future.
Continued high unemployment, staggering numbers of people leaving the work force, a stagnant economy propped up only by the treasury printing billions of imaginary dollars, and more than 47 million Americans on food stamps.
“Obamacare” with its onerous regulations, higher premiums, built-in taxes and increased costs for employers is now reality, threatening further damage to the economy.
No Obama budget has been passed by the Democrat-controlled Senate since 2009. Obama filled out his NCAA bracket on time, but his 2013 budget was late by months and is considered dead on arrival.
There is still no accountability nor explanation for State Department inaction resulting in four Americans killed in the terrorist attacks on the U.S. Consulate in Libya, nor any explanation for the repeated absurd lies by the Obama administration blaming a YouTube video.
At Obama’s direction, F-16s, tanks and billions of dollars have been provided to the Muslim Brotherhood terrorist organization now governing Egypt.
Obama’s Department of Homeland Security has purchased 1.6 billion rounds of ammunition (enough for a 20-year war) and refuses to answer congressional inquiries. At the same time, the rights of law-abiding citizens to keep and bear arms are being restricted wherever Democrats are in power.
Congratulations, Obama voters, on moving America forward — and over a cliff toward third-world status. Good luck explaining your vote to the future generations who will be paying for it, dearly.
David Hudson, Centennial
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