Eagle County property tax revenues will decline as the Assessor’s office sets new assessed values after the downward shift in the market between January 2011 and June 2012.
ASPEN REAL ESTATE – The taxable value of midvalley houses will likely tumble another 20 to 50 percent when Colorado counties undertake a mandatory re-valuation of property in May, 2013, Eagle County Assessor Mark Chapin said Monday. House valuations in the Eagle County portion of the Roaring Fork Valley plummeted in the last re-valuation in May 2011. Houses in the Old Town neighborhood of Basalt fell by as much as 60 percent. In Willits, assessed values generally fell 29 to 36 percent … To meet the deadline, Chapin’s staff will devour sales data for the 18-month period ending June 30, 2012. If property is re-valued 20 to 50 percent less in May, that will affect the tax bills paid in 2014 and 2015.
By Scott Condon, August 31, 2012 AT
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