Comparing Your Property
Gather as much information as you can on similar properties in your neighborhood. Compare the features of these properties to the features of your property. If there are differences, the values of the properties will probably be different.
If you’ve recently purchased your property, what was the sale amount? If you’re thinking of selling, what price are you considering asking? How do these values compare with the estimated value the Assessor has placed on your property? What do you believe your property value should be?
Visit our Sale Data for information pertaining to all property classes (Residential, Commercial, Industrial, Vacant Land). These lists are also available for research on our website.
Pursuant to Colorado State General Property Tax Law, residential properties may only be valued by the market approach to value. The market approach is defined by the Dictionary of Real Estate Appraisal, 3rd Edition as: “The most probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress.”
TIP: A square-foot value is not the Market Approach!!