Written by Greg Johnson
Once the City Council sets the 2015 mill levy in late December, property owners will receive their tax bills in the mail soon after New Year’s Day. But for many of our clients, the sting of the new tax bill won’t be nearly as bad as it could have been.
Scores of Central Denver apartment owners contacted us for help last spring when they received their new property assessments.The Denver County Assessor’s Office sought to raise apartment values by an average of 45%.
But in many cases, Central Denver apartment values were inflated using non-comparable building sales. With our help, an owner of a 34-unit building reduced his assessment by $900,000, saving him nearly $6,000 in property taxes this year. Another client saw her 12-unit assessment reduced by $150,000. But the best result we helped create was for the owner of a 26-unit
Capitol Hill property that had his valuation correctly reduced by $1,400,000. If you believe your property valuation was too high, please contact us next month. There is an appeals process that begins in January for Tax Abatement through the Board of County Commissioners. We’d be happy to share useful market information for your petition.