MONTROSE, Colo. (KREX) — Valuation notices went out near the end of April and are turning up in mailboxes all over Colorado. If you got yours, you know property taxes are going up. The median increases for residential properties range from 30% in Rio Blanco to 40% in Mesa, 47% in Montrose, and as high as 66% in Ouray. Montrose County Assessor Brad Hughes tells me home prices skyrocketed during the pandemic. Home valuations that happen every two years are just catching up. He said, “I’ve been an assessor for 30 years and this is the biggest increase I’ve seen
County assessors have been trying to warn residents this was coming but Montrose homeowner Mindy Velasquez who got her valuation during our interview tells me seeing the number still caught her off guard.
The Montrose County assessor tells us there is legislation in the works to help right now. Senate Bill 303 would allow the state to put a portion of tabor funds to work helping offset property tax increases. The bill passed the Senate on May 4th and is currently in the House. If it passes there it lands on November’s ballots for voters to decide.