Did your property taxes go way up this year?
Just after May 1st each year, the El Paso County Assessor’s Office sends out a special letter called the Notice of Valuation, or NOV, to every homeowner. With property taxes going up, people across Colorado are starting to question how much their houses are worth.
What’s causing these increases? A big reason is that there aren’t enough houses for sale to meet the demand of everyone who wants one.
My primary residence is in central north Colorado Springs, built in the 90’s, so we’re not in a special taxing district.
Our property taxes went up 45.31%, for reference, from 2022 to 2023. I felt that my property value assessment increase was reasonable. Others may have had higher increases.
Was yours higher? If so, what can you do about that? You can file a property tax appeal.
To do this, you’ll fill out a form on the El Paso County Assessor’s website. Locate your property on their search portal and click on the appeal button.
You’ll want to include evidence of what your property’s value should be, such as similar home sales. These sales will need to be between January 2021 and June 30th 2022:
Colorado Statute 39-1-104(12.3)(a) states “the data-gathering period used to estimate the value of property for 2023 & 2024 shall be the 18-month period running from January 1, 2021 through June 30, 2022. Only properties having sold within this 18-month time frame may be used as comparable sales when estimating market value.”
If you bought your home between January 2021 to June 2022, and you are considering or want to file a property tax appeal, here’s how you do it:
You can submit an appeal online through the El Paso County Property Record Search page:
Appeals Process & Notice of Valuation
Find your property record on the site. Under your property’s page, click on the “Appeal” button, fill in the online form, upload any supporting documents, and click ‘submit’.
You can also file an appeal on the back of your Notice of Valuation, which serves as the official Appeal Form. Appeals can also be made via phone, mail, in person, or fax.
If you’re appealing for multiple properties, it’s important to submit separate sets of documents for each property, even if the information is the same. Each property record is individual and requires its own supporting documentation to stay with it.
Ensure you provide as much supporting evidence as possible to back up your claim that the property value is inaccurate. This can include a recent appraisal, photographs, comparable sales data, or a written description detailing the property’s condition.
It’s important for homeowners to know how much more their property’s value is. You also have the right to appeal if you think your property’s values are too high. June 8th is the last day you can file a property tax appeal for El Paso County.
Comment below with any questions!