CRE #172: How Are Property Taxes Calculated?

The Denver Apartment market is at an all-time high. Unfortunately, that means the tax assessments that are mailed to owners on May 1st will also be at all-time highs. We want our clients to be prepared, informed, and proactive.

We invited Denver County’s Assessor, Keith Erffmeyer, to join the podcast this week to discuss how residential real property is valued and best practices for protesting your valuation. Keith goes over everything apartment owners need to know about property taxes and the valuation process and presents a preview of 2021 assessments for Central Denver apartment buildings. This presentation was specifically tailored for Central Denver Apartment owners.

As a fee-based service, Calibrate Real Estate has had over 90% success appealing tax valuations for our clients that results in a decrease in valuation! Hiring someone who knows how to navigate the tax protest and appeal process is key.

The stakes are high this year for Property Valuations.  More than ever, you’re going to want to ensure your new valuation accurately reflect the market, and that the correct comps were used in determining your value.  If you have any questions about your new values, we are available to help!

Download Keith’s slide presentation

BONUS: 8 Tips directly from the Denver Assessor if you’re going to protest your valuation
1. DON’T consider the current market
2. DO remember the date of value (6/30/20)
3. DON’T protest the taxes (you technically don’t know what they’re going to tax you)
4. DO consider the value
5. DON’T consider the rate of increase
6. DO review the property characteristics
7. DON’T simply say “the value is too high”
8. DO provide evidence: sales, photos, descriptions of issues negative to the property, estimates of the cost to cure, rent rolls, etc.

About Keith: In 1994 Keith joined the Assessor’s Office as an intern and worked his way diligently through the ranks within the office. He has been a Certified General Appraiser for years and in 2005 he became the Commercial Section Supervisor and later was promoted to the role of Deputy Assessor and Chief Appraiser. He has served as Denver County’s Assessor since 2014.

Our 3 Most Recent Episodes:

  • EP #170: Navigating a PR Nightmare Eric Dezenhall is in the controversy business. As a damage control expert based in Washington, D.C., Eric works with corporations, prominent individuals, sports organizations, and educational institutions when their worst fears are true: there is someone out to destroy their reputation. As CEO and co-founder of Dezenhall Resources, he has more than 30 years of experience as a crisis management counselor.
  • EP #169: Nail Your Next Client Presentation Like most real estate investors, when best-selling author Dave Dubeau started out in the business he thought he had to cold-call, schmooze and chase after people to raise money. As an introvert, he hated the idea of massive rejection from cold calling and schmoozing felt desperate and a waste of time. He knew if this career was going to work, he would have to try something completely different. It was time to stop chasing investors and instead have them come to him.
  • EP #168: Ascending the Real Estate Ladder Before hitting the age of 30, Nik Boone, the Broker and Owner of Ascend Real Estate & Property Management, has gained over 10 years of experience in the industry. His goal is to offer the best service possible to all clientele, from the first-time buyer or renter, to the experienced investor. With everything he has accomplished, understandably, Nik is a 30 Under 30 Honoree for 2020.

Written & Produced by Anne Russell
Hosted by Kyle Malnati

Calibrate Real Estate
2425 S. Colorado Blvd #250, Denver, CO 80222