In Colorado, Real property is reassessed every other year (odd years 2021, 2023, 2025 etc.). The following intervening year the value will remain the same unless there has been a change affecting the value and/or use of the property. In May of the reappraisal year, each property owner will receive a Notice of Value. This is not a tax bill. The Notice of Value (NOV) is to notify you of any change in your value and to inform you of your right to appeal this new value or classification.
2023 Actual Value Reductions
As part of SB22-238, there will be a reduction of the actual value for residential properties as well as commercial improved properties and assessment rate changes.
As part of SB23B-001
Residential properties will have their actual value reduced by $55,000, as long as the assessed value does not fall below $1,000.
Commercial properties will have their actual value reduced by $30,000, as long as the assessed value does not fall below $1,000.
2023 Assessment Rates
- Residential Assessment Rate reduced from 6.95% to 6.765% per SB23B-001 now 6.7%
- Residential Multi-Family Rate reduced from 6.80% to 6.765% per SB23B-001 now 6.7%
- All other Non-Residential Property reduced from 29% to 27.9%
- Agricultural & Renewable Energy Property Rate No Change 26.4%
- Personal Property Reduced from 29% to 27.9%
Actual value reductions and 2023 assessment rates will be applied prior to final certification of values to local taxing authorities, no later than January 3, 2024.
Property owners will receive a condensed version postcard of their Notice of Value and appeal form. eNotices allows a property owner to receive their valuation notices via email instead of regular mail. Property owners that sign up for eNotices will no longer receive a hard copy postcard or paper form Notice of Value. However, property owners will have the ability to unsubscribe from eNotices if they wish to receive a hard copy in the future. As an added benefit, property owners can view their traditional long form notice of valuation and appeal form and you will have a separate and distinct account. Each postcard notice has a distinct authorization code for eNotices. This is a convenient way to receive your notices and allows for easy access to your forms at your convenience. Click on the link below to get started.
Set up your eNoticesonline.com account.
2023 Notice of Value
Notice of Valuation Postcards will be mailed no later than May 1, 2023. Colorado Law requires assessors to analyze sales data and "Adjust all qualified sales to the market conditions that existed on what is commonly referred to as the appraisal date." The appraisal date for this reassessment is June 30, 2022. While Colorado Revised Statutes specify an 18 month sales period, Assessors are allowed to go back in time in six month increments,up to 5 years. The Elbert County Assessor utilizes a data collection period of 24 months from July 1, 2020 to June 30, 2022
Interactive Sales Map
Click on the Spatialest link below to review the residential sales utilized for the 2023 reappraisal.
2023 Reappraisal indicated significant valuation increases
The below maps display the median value percent change by market are and postal code
Appeal Information & Online Forms
Property owners have the ability to appeal their value or classification online. Please see the Appeal Information page prior to filing an appeal. This will guide you and provide valuable information regarding the process.
- 2023 Reappraisal Powerpoint
- 2023 Reappraisal General Information
- 2023 Median Value Percent Change by Market Area
- 2023 Median Value percent Change by Postal Code
- 2023 Residential Sales Data
- 2023 Vacant Land Sales Data
- 2023 Commercial Sales Data
- Mass Appraisal Process
- Letter of Agent Authorization (PDF)
- Property Taxes in Colorado Brochure 2023