Wait...WHAT Are My Colorado Property Taxes Next Year?!?
Posted by Jess Feaster on
If you own a home in Colorado, you've no doubt opened the dreaded new property tax assessment notice. We all knew this was coming, but it's still a tough pill to swallow! As real estate agents, we want to make sure our clients understand how these changes will affect them.
We worked with our friends at Land Title to breakdown all things about Colorado's Property Taxes to share with all of you.
When and how much?
In late April, county assessors mailed out valuation notices based on property values as of June 30, 2022, which also happens to be close to when home values peaked in Colorado. On average, the increase is expected to be 25% to 27%, and in some counties (including resort markets) they may be as high as 65% or more.
What are…
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2022 was another record breaking year for Golden's Tablerock neighborhood. The highest priced home sold for $2M, a huge increase from last year's most expensive home that sold for $1.545M. The average sold price also increased quite a bit with this year's average hitting $1.55M.
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In her first year as an agent, Sarah Page, was named one of Denver's Rising Stars and she's done it again in 2022! Denver-area real estate agents in their first 5 years qualify for this award, but only less than 1% of them receives it! The selected agents embody professional excellence, exhibit superior customer service and show great potential to excel as an agent. For those of you who have worked with Sarah, you know first hand how hard-working, dedicated and knowledgable she is. She's also just a fun person to be around, a great quality when going through the stressful process of home buying or selling.
Golden's Tablerock neighborhood has always been in high demand, but 2021 was a year like no other. For starters, the highest priced home sold for $1,545,000! To put it in perspective, last year's record high was $1,007,500. That's a 53% increase in one year! On average, Tablerock homes were under contract in 2 days and sold for an average of $1.2M. Inventory doubled Y/Y though, with 12 homes sold in 2021. With Tablerock's fantastic location and outstanding community, we expect to this neighborhood will continue to thrive.
We are in constant awe of our real estate agent community here in Denver. As the school year begins, we wanted to highlight one cause in particular: Food For Thought. Bob Bell, a charismatic, kind, local real estate agent, created Food for Thought in 2012 with the goal of alleviating kids' hunger - especially over the weekends - in Denver's schools. Initially, Bob and some other volunteers were able to raise enough money to supply weekend food bags to two Denver public schools. Fast forward to 2021, Food For Thought now works with 72 Denver area schools and continues to be a 100% volunteer organization.
