A 2023 drone photo of Denver. (Courtesy Guerilla Capturing)
Fewer Denver property owners are fighting the county assessor over what their property is worth than two years ago.
The city and county received 10,675 assessment appeals by the June 9 deadline, finance department spokesman Joshua Rosenblum told BusinessDen.
That’s down 57% from the last cycle in 2023, when 24,956 appeals were received.
A drop was expected because fewer property owners saw a jump in their valuations this cycle — with many actually seeing a decline. That’s markedly different from 2023, when valuations surged amid low interest rates.
Colorado county assessors assess properties every two years, with valuation notices going out by May 1. The latest figures reflect transactions and market conditions from July 2022 through June 2024.
The number of appeals this cycle was slightly up from 2021 (8,844 appeals) and slightly down from 2019 (12,979).
The above figures include appeals from commercial and residential properties.
On the commercial side, office and apartment buildings in Denver saw the steepest drop in valuations this cycle. On the residential side, Denver’s priciest residential neighborhoods generally saw a small increase in assessed home values.
Read more: Here’s how valuations changed for Denver’s most prominent properties
A 2023 drone photo of Denver. (Courtesy Guerilla Capturing)
Fewer Denver property owners are fighting the county assessor over what their property is worth than two years ago.
The city and county received 10,675 assessment appeals by the June 9 deadline, finance department spokesman Joshua Rosenblum told BusinessDen.
That’s down 57% from the last cycle in 2023, when 24,956 appeals were received.
A drop was expected because fewer property owners saw a jump in their valuations this cycle — with many actually seeing a decline. That’s markedly different from 2023, when valuations surged amid low interest rates.
Colorado county assessors assess properties every two years, with valuation notices going out by May 1. The latest figures reflect transactions and market conditions from July 2022 through June 2024.
The number of appeals this cycle was slightly up from 2021 (8,844 appeals) and slightly down from 2019 (12,979).
The above figures include appeals from commercial and residential properties.
On the commercial side, office and apartment buildings in Denver saw the steepest drop in valuations this cycle. On the residential side, Denver’s priciest residential neighborhoods generally saw a small increase in assessed home values.
Read more: Here’s how valuations changed for Denver’s most prominent properties
