PITKIN COUNTY AND ASPEN REAL ESTATE – The values of area homes used for the current round of taxation, by state law, were determined in 2009 based on market conditions from 2008 (property valuations are recalculated every two years). That pre-recession pricing has led to two years of consternation for taxpayers whose home values have declined sharply since the tail end of the real estate boom. In 2009, valuations went up 32.7 percent from the previous survey conducted in 2007, which saw valuations spike between 40 and 45 percent. This year, they remain about even — with a 0.4 percent increase in value. This spring, new valuations are due out, and home price tags are expected to fall from the stratosphere for the bills that will go out a year from now…After the community-wide dismay at 2009’s valuations, this year’s slight increase in taxes has sparked relatively scant grumbling from homeowners.
By Andrew Travers, Jan. 31, 2011, Aspen Times

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