Taxing A House Gone for Years

[Terrel L. Shields]

https://moneywise.com/real-estate/colorado-man-property-taxes-tripled

In Colorado, home prices are assessed every two years for tax purposes. As the values increase, so do the taxes. Recently, Boulder County saw a massive increase in property values because the new appraisals were based on home sales during the pandemic, when demand in Boulder County surged. Boulder County Assessor Cynthia Braddock told CBS the median increase in the county was 35%.​

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“It is painful to send out an assessment that large, knowing it will impact people’s ability to pay their taxes,” Braddock told reporters.​

But it did not stop her from sending those out, did it? Welcome to the Peoples Republic of Colorado. I wrote them a check for $641 last week in addition to the ad valorem taxes already taken, the severance tax (7%), conservation tax 3.5%, and income taxes. My taxes are based on commercial assessment rates that are 12 x that of a house. I could not afford to live in the state.

 

[sputnam]

I wouldn't expect any official's personal feelings to impact their work. Shouldn't impact appraisers either. I don't know specifically about Boulder County, CO.. but, every county that I know of has procedures for challenging a property's assessed value.

 

[Terrel L. Shields]

every county that I know of has procedures for challenging a property's assessed value.

he did challenge it and got nowhere-small reduction despite the entire house being burned to the ground. I suspect the problem is the land value. 35 acres of a rugged canyon side used to not be worth more than a few hundred bucks per acre. Now it commonly is worth thousands. But I was thinking that 35 acres here would automatically qualify at agri rates. But if I recall in CO, you would have to fence off the property and have at least one or two goats on it to qualify for agriculture rates. Not sure.

Well, that's a weird lot???


Holy Moly - no wonder he is complaining. They say the lot is worth over $1,000,000 and the non-existent house is worth 40+K

 

[Terry Caldwell]

The assessor has to send out the tax notices by law. No excuse for over valuing vacant land. Fla has a cap on taxable value increases which helps. Real estate is too volatile here and taxes would push people out of their homes. Like insurance. Of course politicians can just increase the millage rate.

 

[Charles West]

What would happen if California had that kind of system instead of Prop 13? All my stuff has increased by 60% since the pandemic, so 12 to 15 million seniors homeless and living on the streets sounds like a possible outcome.

 

[Terrel L. Shields]

The assessor has to send out the tax notices by law.

So, they are mandated to set a value to a burned house several years after it burned? And they value large tracts at such high prices? That's $30,000 per acre for a brush canyon. I know Colorado property is high but is it that high?

 

[Terry Caldwell]

Same here. Seniors that bought waterfront ranches in the 1960s would be paying taxes on million dollar houses, or homeless. The homestead exemption can be transferred if we buy another house which helps.

 

[Terry Caldwell]

So, they are mandated to set a value to a burned house several years after it burned? And they value large tracts at such high prices? That's $30,000 per acre for a brush canyon. I know Colorado property is high but is

So, they are mandated to set a value to a burned house several years after it burned? And they value large tracts at such high prices? That's $30,000 per acre for a brush canyon. I know Colorado property is high but is it that high?

I didn't say the assessment was correct, just commenting on the assessors statement. They seemed to know it was a fiasco but had a deadline to meet and did not request help or more time. Govt. wants their money, they don't care about assessments.

 

[Artemis Fowl]

Nvm

 

[Elliott]

In Oregon, when a house has a sudden substantial loss in value, there is a procedure. I had a $1000 water bill for two months because the toilet flap didn't seat when the house was vacant. I appealed to the city council, explained the situation, and they knocked $800 off the bill. Government can be reasonable if they are approached in a reasonable way. But, I'm trying to get an old, out of state car registered, and so far they have been obtuse.....its probably why people split plates. : )

"Proration
If, during any tax year, any real or personal property is destroyed or damaged by fire or act of God, the property owner, as defined in ORS 308.146 (Determination of maximum assessed value and assessed value), may apply to the tax collector for proration of the taxes imposed on the property for the tax year.
oregon.public.law › statutes › ors_308

ORS 308.425 Proration of taxes after destruction or damage

https://olis.oregonlegislature.gov/liz/2021R1/Downloads/PublicTestimonyDocument/27355