How To Lower Property Taxes in Arapahoe County (Aurora, Sheridan: assessor, how much)

[mrlucero2002]

Has anyone out there recently been successful at lowering their property taxes? How did you go about getting them lowered, who did you contact, and how long did the process take you? How much did you save?

I am 1 week away closing on a home in Tallyn's Reach in Aurora and I'd like to know how to dispute or lower my property taxes.

The home originally sold for around $450k when it was originally sold and I agreed to pruchase it for $375. The property taxes are currently close to $5k /year but since property values have come down I am hoping the property taxes will be lowered as well.

I asked my realtor how to go about lowering the taxes and he told me to go to Arapahoe County's web site, look up Mill-Levy and look for a phone number to call. I found the whole process very confussing.

Thanks in advance for any advice you can provide.

[2bindenver]

Wait for the assessor to mail you the valuation in May. Protest instructions are included.

[suzco]

Colorado property tax assessment is controlled by state law. Each county assessor is required to send you a real property Notice of Valuation by May 1 of each year. (The mailing will include an appeal form and give public notice to all taxpayers of their rights to appeal the value.)

The assessor revalues real property every odd numbered year. (The values are as of January of the year the assessment is done) The value remains in effect for the following year, too.

If you disagree with the value assigned by the assessor, you have the right to file an appeal to the assessor’s office by June 1. (There are further appeals available if you disagree with the assessor's decision on your appeal.)

So if you close in April, you will get that notice May 1 with the new valuation; go on from there. . .

[mrlucero2002]

Oh, you two are great. Thank you so much.

[suzco]

Originally Posted by mrlucero2002

Oh, you two are great. Thank you so much.

You're welcome.

[Sheridan1962]

Thank you for the information too! We just bought a house in Arapahoe County (just closed Friday, as a matter of fact), and I was wondering about this as well.

Does the State of Colorado have a "homestead exemption" for tax purposes? We've had to file those in other states we've bought homes in, but I've heard nothing about that for Colorado.

[suzco]

Originally Posted by Sheridan1962

Thank you for the information too! We just bought a house in Arapahoe County (just closed Friday, as a matter of fact), and I was wondering about this as well.

Does the State of Colorado have a "homestead exemption" for tax purposes? We've had to file those in other states we've bought homes in, but I've heard nothing about that for Colorado.

There's no homestead exemption. The only property tax exemptions for individuals are a senior exemption and a disabled veteran exemption.

(The senior exemption is available if you are over 65 years old and have owned and lived in your Colorado home for at least 10 years; for the disabled veteran exemption, the veteran must have received a "permanent and total" disability rating from the U.S. Department of Veterans Affairs due to a service-connected disability.)

[2bindenver]

DOES COLORADO HAVE A HOMESTEAD EXEMPTION?

There is a statutory provision that a homestead occupied as a home by the owner shall be exempt from attachment arising from any debt or bankruptcy up to the value of $60,000, but current Colorado laws do not allow for a Homestead Exemption from property taxes.

HOW DO I QUALIFY FOR THE SENIOR EXEMPTION?

Taxpayers who are at least 65 years old on Jan. 1, who have been the owner of record on their property for at least ten years prior to Jan. 1 and who have occupied the property as their primary residence for at least ten consecutive years prior to Jan. 1 may qualify for the Senior Exemption. Application must be filed by July 15 of the year for which the exemption is sought.

[Sheridan1962]

Thanks for the homestead explanation. Definitely different from Texas.

[starlite9]

What you do is get the elected officals to stop spending on pork issues that all Counties are guilty of and either throw them out of office or get them to curb spending so that you don't have to pay through the nose to live there.

But since that isn't going to happen soon, I would go with the first few suggestions...

That felt good to say though....