It is the time of year when the assessor’s offices of Colorado report on the value of all real estate properties in their counties. We send individual owners a notice of valuation, either electronically or by mail, informing them of the value of their real estate as it physically existed on Jan. 1.
Every two years, county assessors benchmark property values to a specific date. This year’s cycle measures value changes from July 1, 2012, to June 30, 2014. The value we put on your property is statistically the price it would have sold for on June 30, 2014. Our studies have shown steady value increases in many locations and over most property types in the county. Low national interest rates, shortages of properties for sale in some areas and our growth in population have moved property values upward; and this trend is continuing.
The previous data collection period, from 2011 through 2012, had seen market weakness, numerous foreclosures and the effects of a generally weak economy. Those areas of foreclosure have been selling, and as the economy improves, market values are beginning to rebound. The rising tide of real estate is showing or beginning to show across many areas of La Plata County and Colorado, depending on where you live. Look around your neighborhood. Are there new people moving in, is new construction beginning or ongoing? Are schools and stores upgrading?
For assessors offices, these factors influence people and ultimately the market of all properties we track and visit. These values will become the basis of property taxes for 2015 and 2016. Our value review period is the month of May. Please read your statement closely. We are proud to offer the ability for you to receive all your notices from this office online. Sign up and save tax dollars. Feel free to use our property database at; http://co.laplata.co.us/departments_officials/assessor to learn more about the laws and services. We are happy to answer questions about valuation at any time at 382-6221.
Craig N. Larson, La Plata County assessor
Durango
