Next year could be rough for homeowners. A sharp increase in property tax is on its way. Mesa County assessor brent Goff told me in his 27 years in this business he’s never seen such a sharp rise in property prices. He told me property tax is based on several things including the legislature’s rate, and any mill levies from local municipalities along with the value of the home. He says the re-appraisals for home values happen every other year, “As far as the property taxes they’re set by properties that sell so when you have sales that come into our analysis the local assessor we respond to those sales, and we follow that market and every 2 years we have to re-appraise the entire county.” This year homeowners may need to brace for appraisals that could lead to a huge, unexpected rise in property taxes.

Goff said, “The worst-case scenario is that the legislature doesn’t change the assessment rates, they don’t lower the assessment rates and all the taxing entities decide to keep their mill levies the same. If that pans out, then you’re gonna pay more tax. They’re gonna pay countywide it’d be 30 percent.” But it may not end up quite that bad, house bill 1054 would cap the increase at 5 percent and is currently under consideration by Colorado’s house of representatives. Goff said, “If those get some traction before the legislature goes out of session that would be great news for the taxpayers.”

Goff told me the assessor’s office will send out notices with the re-appraisal results in May.   If you don’t think your home could have sold for that back in June of 2022 you can go to his office in person and contest the valuation.
 According to the county assessor factors like lumber, labor, and housing shortages, as well as government stimulus and even bidding wars contribute to higher home values. Property prices between 2020 and 2022 jumped more than 30 percent in the Redlands, Fruita, Fruitvale, and more than 45 percent in outlying areas of Mesa County and for commercial property. The new home values will begin affecting property taxes in January 2024 When that happens, the big question is how any increase may affect residents on fixed incomes.