ASPEN – PITKIN COUNTY REAL ESTATE
Question to Assessor’s Office: Please would you explain how properties are valued for tax purposes and the dates for both the prior and present valuation periods ?
Assessor’s Office Answer: Your property was valued as it existed on January 1 of the current year. The value of residential property is based on the market approach to value. Generally, the value of all other property is based on consideration of the market, cost, and income approaches to value. The appraisal data used to establish value is from the 24-month period ending June 30, 2010, § 39-1-104(10.2)(a), C.R.S. If insufficient data existed during the 24-month data gathering period, data from each preceding six-month period (up to a period of five years preceding June 30, 2010) may be utilized, § 39-1-104(10.2)(d), C.R.S.
The appraisal data used to establish value for tax years 2009/2010 was the 24 month period ending June 30, 2008.
Pitkin County Assessor’s Office
See most recent May 3, 11 AT article on the new assessments.