Assessor says staff analysis indicates the market is still falling

BASALT REAL ESTATE — Property values in Eagle County, including the middle Roaring Fork Valley, haven’t hit bottom yet, so governments that collect property taxes could face tough times for the foreseeable future, county officials said. Eagle County Assessor Mark Chapin said his staff’s analysis of property values from Jan. 1, 2008 through Sept. 20 this year indicates a steady decline that hasn’t stopped. “The market’s still falling. What percentage, I don’t know,” Chapin said. “There’s a few areas where it looks like it’s gone flat, specifically Gypsum and Eagle.” All Colorado counties conducted a reappraisal in 2011; state law mandates a reappraisal every other year. The Roaring Fork Valley portion of Eagle County experienced more drastic decreases than the Eagle Valley after the recession hit. Prices in the Roaring Fork Valley had peaked higher because of the proximity to Aspen. In this case, the higher the prices climbed, the harder they fell.
By Scott Condon, September, 26 2011, AT

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Basalt Map courtesy of Mason Morse Real Estate