Property Owners: You Still Have Time to Submit an Appeal in Colorado

As part of Colorado’s biennial reassessment cycle, commercial property owners should brace for significant changes in their property tax bills as a result of the 2024 assessment revaluation. Driven by robust economic growth and a strong real estate market, many commercial properties have seen substantial increases in value since the last assessment in 2022. More than 100,000 real estate tax appeals were filed across the Denver metro area alone, far surpassing the typical averages seen in revaluation years. This massive wave of appeals highlights the widespread concern among property owners facing significant increases in their property valuations and subsequent tax bills.

For those who missed the initial deadline, a second opportunity to file an appeal begins on January 2, 2025. This extended window offers a vital chance for property owners to seek relief and ensure their properties are fairly assessed. Ensuring that your property is fairly assessed is crucial for managing expenses and maintaining the financial health of your business.

There’s a large 2024 appeal docket for property owners and assessor’s office appraisers to work through over the next 12 to 18 months. The local experts at Ryan can assist with navigating the Colorado appeal process and have a proven history of successfully reducing property tax assessments by ensuring properties are accurately assessed. For expert guidance and support, consider reaching out to Ryan to help manage your appeal and achieve a fair tax outcome.