ASSESSORS

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 realestate 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 prop- defer payment on some of what they owe on their primary residence, e Colorado Sun reported. e deadline of April 1 to apply for the deferral has passed, but it might be worth looking into for future years.

Colorado’s “Property Tax Deferral Program” has traditionally helped seniors and active military personnel continue to a ord to live in their homes, according to the Colorado Treasurer’s O ce website.

On Jan. 1, Colorado was to expand the deferral program to allow those who do not qualify for the senior or military personnel program to defer a portion of their real property taxes erty 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 juris-