TAXES

FROM PAGE 1

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Linda Shapley

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the urgent nature of the situation for homeowners and a ordability.

“If the state lawmakers don’t act immediately on this, then it will be a crisis, in my opinion,” Damisch, the Douglas County assessor, told reporters.

Not an isolated problem

Across Colorado, property values have risen signi cantly, Damisch said. In notably a uent Douglas County, residential properties saw increases between 30% and 60%, with a median of 47%.

Other metro-area counties have seen high spikes as well:

• In Denver, the median increase in single-family home property values is 33%, Er meyer said.

• In Je erson County, median singlefamily residential values increased by 37%, the county said in a news release.

• Arapahoe County’s assessor, PK Kaiser, announced the county will see almost a 42% increase in residential values.

• Broom eld saw a median value increase for single-family residential of 41%, according to Broom eld County’s assessor.

How does that all stack up with property value jumps in recent years?

Er meyer recalls talking about median increases that were “largely in the 20s” in Denver in 2015, 2017 and 2019.

“Douglas County, we had 30% increases in the 1997 reappraisal as well as the 1999 appraisal. at felt monumental at the time,” Damisch said. “What we’re looking at this year is that’s at the low end.”

Apartment renters a ected

While property tax discussions often focus on homeowners, the spike in values could also a ect renters in apartments — sometimes called “multifamily” buildings — though it’s unclear by how much.

Asked whether apartment landlords will raise rent because of increases in property tax bills, Damisch said they may try, “but they can only do what the market allows.”

“And taxes is just one of their cost streams,” Damisch said, adding that landlords have seen increased labor and insurance costs as well.

Er meyer noted: “We’ve seen some historic increases in multifamily in the past that haven’t been met with immediate rent spikes.” e median total property value change for apartment buildings is 20% in Je erson County, according to a news release.

In Douglas County, the median increase in multifamily property values is 25%, Damisch said.

Growing pains

In an expensive real-estate market, it seems like new property developments pop up constantly around metro Denver. A common concern from existing residents is that new developments will cause their property values to drop. But market forces keeping property values high can also elicit fears of high property tax bills.

Asked about the tension between those two concerns, Damisch acknowledged it’s a di cult question.

“Growth has always been, in Douglas County, one of the hottest topics. We’ve had thousands of people moving in for a few decades,” Damisch said. “Once they get here — myself included — they don’t like the growth.”

Er meyer pointed to the shortage of housing in general around the state.

“I don’t think you could disconnect what we’re talking about today from that particular fact,” Er meyer said. “ at’s one of many, many things that contribute to property (values).”

Lawmakers may step in

It’s the job of county assessors’ o ces to establish accurate values of homes and other properties to determine how much property owners will owe government entities in taxes — a process meant to ensure that the amount of taxes people pay is fair and equitable.

( e assessor doesn’t set the tax rate but determines the value of the property that the tax rate then gets applied to. Local government entities like counties and school districts set the tax rates. Property tax rates are o cially called “mill levies.”) e law requires the assessors to value properties every two years. e property valuation homeowners will soon receive is based on June 2022 data, near the recent peak in the real-estate market.

So even though home prices have declined since then, property values re ect last year’s exceptional highs. Also at play is a number called the “assessment rate,” another factor that helps determine how much in property taxes a person owes. e state legislature sets the assessment rate.

JoAnn Gro , Colorado property tax administrator, said she “can pretty well guarantee” that the property tax information homeowners receive next week won’t be accurate.

“It’s because your legislature isn’t immune to what’s going on right now,” Gro said. “ ere’ve been lots of discussions … about providing some additional property value adjustment.”

“I truly expect to see some adjustments and some relief in 2023,” she added.

She also advised the public “to watch every one of your taxing jurisdictions that’s going to have conversations about setting their mill levy.”

Colorado ranks lower

Despite the public concerns over property taxes, Gro noted that “we still have one of the lowest obligations of property taxes of any state.”

Nationally, Colorado has relatively low residential property taxes, according to an analysis by the conservative Tax Foundation. Colorado ranked 47th in property taxes paid as a percentage of owner-occupied housing value in 2020, according to the foundation.

And while businesses pay more, their taxes still appear to be lower than the national average, according to the Colorado Sun. Colorado had the 17th best “State Business Tax Climate” for 2020, according to the Tax Foundation. Colorado had the 14th best “property tax rank” for businesses in 2020, according to the foundation.

Cinco de Mayo 5K is year’s Cinco de Mayo 5K run will be at 4:30 p.m. Friday, May 5, at Railroad Park, across the street from the Fort Lupton Recreation Center, 203 S. Harrison Ave.

Live music and prizes are part of the agenda as well. Visit https://fortluptonco.gov/775/Cinco-de-Mayo-5K.

Spring Plant Sale at Aims e Aims Agriculture Club is hosting a Spring Plant Sale fundraiser from 4-7 p.m. May 10 in the greenhouse at the Fort Lupton campus. Students have grown many types of gardens and indoor plants to help fundraise for opportunities for the club. All plants sold are grown by Aims Ag Club and Aims Horticulture students. Choose from plants for your vegetable garden, outdoor owers, succulents and more.

Fort Lupton Rec Center hosts lifeguard sessions

Don’t miss out on lifeguard training May 30 - June 3! Are you 15 years old or older and looking for a great part-time job with exible hours or a challenging career? American Red Cross Lifeguarding is the best place to start! Lifeguarding puts you in an exciting position, working as part of a team to help people safely enjoy the water. You must attend every class to receive the American Red Cross certi cation. Call 303-857-4200 x6164 or email dcook@fortluptonco.gov for registration.

Sign Up Early - Space is Limited!

Mays Memorial Fore Youth Benefit Golf Tournament June 9 e annual Jacobs Jon Mays Memorial Golf Tournament returns to Coyote Creek Golf Course June 9 to bene t local youth. e tournament is a four-person scramble. After an 8 a.m. start, golfers will enjoy 18 holes with fun games and contests. ere’s also a pre-round breakfast, post-event lunch and prizes.

Individual registration is $140 per player and $455 per team. Registration includes green fees, cart and lunch. Sponsorships are available at a variety of price points, and include bene ts like tee-box advertising, team registration, promotional opportunities and more.

To register for the tournament and view a complete list of sponsorship opportunities, visit www.golfgenius.com/ggid/jmay23. If you can’t participate in the tournament, but want to lend your support, consider a