DENVER (KDVR) — Susan Hidalgo is very concerned about her property taxes this year.
“They just keep going up,” she said.
Hidalgo says she’s lived in her Arapahoe County home for 32 years and the value has exploded, and therefore so have the property taxes.
“They are acting like I have a 12 bedroom mansion and I don’t,” she said.
Matt Leprino, a spokesperson for the Colorado Association of Realtors said, “There are some people who are opening up some rather surprising tax bills right now.”
The most recent assessments, he says, were made near the height of the market in 2022.
“If you bought your house for say $500,000 in 2018 it was very realistic that that was a $700,000 house in 2022,” Leprino said.
But as the market has slowed a bit, some homeowners are wondering if those assessments are still accurate, or if the value of their home has decreased since then.
“I think you should look at it every single year. Consult your realtor and find out if it’s accurate or not,” Leprino said.
Data from the Colorado Association of Realtors shows sales prices in the metro were down 1.5 % in January.
If warranted, homeowners can fill out a form and contest the assessment. But don’t expect too much. Leprino says he was shocked by his own assessment, but then he looked into it.
“Unfortunately when I looked at it, it was realistic. That’s just the price we pay for living in a city that’s been very desirable and the prices have gone up,” he said.
Homeowners can ask their realtor for an assessment or get an official appraisal.