In our last column, we discussed the basics of property taxes.  Although each dep-uty Boulder County assessor evaluates 7500 properties every year, the property and tax you’re most interested in is your own.

You already have received your property tax assessment, which provides details about the assessed value, your property’s description and an estimate of the property tax to be levied.  BE SURE TO REVIEW THIS CAREFULLY because the information it contains has an enormous impact on the amount of property tax you’ll pay.

There are two main factors in determining property taxes:  mil levy and assessed value.  The mil levy, you may recall, is the tax assessed, or levied, by various taxing agencies such as fire, water and school districts. 

Be aware that you can protest only the assessed value; you cannot protest the mil levies from the taxing authorities.  The levies are set by the governing bodies and additions are approved and/or increased only by a vote of the affected taxpayers.

Only 7 percent of Boulder County property owners appeal their assessed values.  According to one realtor (who, to avoid getting in hot water with the “authorities” didn’t want to be identified), many appeals are successful.  Also, according to Sam Forsythe, Chief Deputy County Assessor, most are satisfied with the result when they do appeal.  Does that mean that the County is that good at assessing property, or does that mean too many property owners are complacent?

Before you launch into a full-scale protest, here are some things you should know:

Boulder County property taxes are actually lower than many comparable areas in Colorado.  Most areas of Boulder County do not vary widely in amounts of the mil levies, with the exception of Superior.  According to Marty Sugg, a realtor with Wright Kingdom, an owner of a $200,000 home in Superior would pay substantially more in taxes than in nearby Louisville. Sugg said that the home owner “might pay as much as 40 percent more in Superior.”

The assessed value is important because it reflects the value of your property.  That value may or may not be the same as your neighbor’s, and it may or may not accurately reflect the value of your property.

The assessed value is where it all starts: without a fair assessed value you have no chance of paying your fair share of property taxes.  Therefore, it is important to review the assessment notices from the County Assessor’s office. 

In reviewing that notice, you’ll see the assessment dates:  an 18-month range during which your property was compared to “similar” properties.  The data, by the time you review it on the assessment letter, may be 24 months old.  Be sure you evaluate its accuracy in the appropriate time frame.  Don’t use current property comparisons; use those for the correct time period when your home was assessed.  A realtor can help you with finding comparable homes sold in the desired time period.  The information is also available from the County Assessor’s office.

As you review the assessment letter, be sure to note any discrepancies in the following:

• Number of bedrooms and baths
• Square footage (finished and unfinished portions)
• Construction
• Garage, porch or other improvements

• Do your homework on legitimate comparisons
• Use the Assessor Office’s form or you can send a letter (they respond to both)
• Postmark your request for appeal by May 27, or appear in person between May 1 and June 1 (the locations vary by date, so call the Assessor’s office first)
• Keep notes of your research, whom you spoke with, important dates, etc.

You should receive an answer back in writing in August.  Remember, nothing ventured, nothing properly assessed. 

For more information you can go to <www.co.boulder.co.us/assessor>.