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Frequently Asked Questions What is the function of the Assessor's Office? The Assessor’s Office is responsible for discovering, listing, and valuing all taxable property (both real and personal) within the county. In addition, our office prepares the tax roll, transfers ownership of property, prepares the abstract of assessment and certifies values to all levying bodies in the county. Pursuant to Colorado State Statute C.R.S. Article 3, Title 39, all taxable and exempt property is valued by the county assessor valuation criteria as stipulated by statute and by using manuals, appraisal procedures, and instructions issued by the Property Tax Administrator. The total value as determined by the County Assessor is certified to the county entities and the state. Each entity certifies a mill levy to the Assessor and then it is the duties of the Assessor to extend the tax on all property assessed and direct the County Treasurer to collect the taxes. What is your Fremont County property taxes used for? All of the revenue generated by property taxes stays in Fremont County to pay for services provided to its citizens. Property taxes do not support any state services. In 2003, approximately 60% of property taxes went for public schools, 19% for county services, 4% to pay for city services, and 17% to pay for special district services. How does the Assessor establish value? All property, real and personal, located in the State of Colorado on the assessment date, January 1, is taxable unless expressly exempted by the Constitution or state statutes. Article X, Section 3, Colorado Constitution, and 39-1-102 (16), C.R.S. Most property in Colorado is valued using the three approaches to value: the market approach, the cost approach, and the income approach. The exceptions to the three approaches include residential real property (market only), agricultural land, and natural resource land (special valuation procedures based on productivity and production). The market, cost, and income data that county assessors use to apply the appropriate approaches to value is collected during specific periods prescribed by statute and represent a certain ''level of value''. Property taxes are not calculated on the ''full actual value'' as determined by the assessor. Instead, an assessment percentage is applied according to the classification of the property. 39-1-104(1) and (1.5), C.R.S. Residential property is assessed at a percentage of the actual value; currently, this percentage is 7.96% while most other property is assessed at 29%. How do I know the actual value the assessor has determined my property to be? A property owner must be sent a notice of valuation (NOV) every other year unless there has been a change in their property. This notice must be mailed no later than May 1st. What if I disagree with the value that the assessor has assigned to my property? If a taxpayer disagrees with the value assigned by the assessor, the taxpayer may file a protest during the statutory protest period. Real property protests must be postmarked no later than June 2nd, or a taxpayer may appear in person to protest no later than June 2nd. 39-5-121(1), C.R.S. Personal property protests must be postmarked no later than June 30th, or a taxpayer may appear in person to protest no later than June 30th. 39-5-121(1.5), C.R.S. A protest form is included with the Notice of Valuation; however, it is not mandatory for the taxpayer to use this form, or any other particular form, when protesting. What happens after I appeal? All personal inquiries and letters/faxes received during the protest period are processed and reviewed. The assessor's staff corrects all erroneous or improper valuations. If the assessor determines that the value is correct, no adjustments will be applied. In each determination, the assessor includes the reason(s) for denial and information regarding the taxpayer's right of appeal to the county board of equalization. Can I protest the amount of taxes I pay? The assessor assigns the value to your property, not the tax amount. The appraisers in the Assessor’s Office strive to reach the actual/market value of your property, per mass appraisal techniques. Your house is valued at approximately what it would sell for on the open market. Taxes include a number of components that are beyond the assessor’s control such as mill and assessment rate. The assessment rate is set by the State Legislature and mill levies are determined by each governing entity such as schools, city or county, fire department, recreation & parks districts, etc. The end results of these components determine the amount of taxes levied. The following is an example of how taxes are calculated::
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