After setting the value of real estate in Pitkin County as of June 20, 2008 at $36 billion, the assessor received 4,600 valuation protests from property owners or their representatives.(editor – this is approx. 1/3 of all Pitkin County homeowners, see prior article in these Aspen real estate archives). After reviewing those protests, the assessor has now adjusted the value of 1,685 properties (editor- about 8%) downward by a collective $732 million, with the top three adjustments accounting for $43.9 million of the total. Receiving the biggest adjustment, at $25 million, was the Starwood estate owned by Prince Bandar of Saudi Arabia. It includes 56,000 square feet of residential space in a main house and two small cabins, plus a 6,000-square-foot garage…There are 2,900 Pitkin County property owners who protested and received an adjustment of $0
By Brent Gardner-Smith, July 13, 2009, Aspen Daily News

Link to article.