Archive for May, 2017

What Goes Up . . . Means More Taxes

Wednesday, May 17th, 2017

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In Steamboat Springs, property values are on the rise and the Routt County Assessor Office is taking note.  These rising values are likely reflected on the Notices of Valuation that recently went out from the Assessor’s Office, which will translate into your property tax bill for 2017 and 2018.

Below is some basic information about how the Assessor determines a property’s valuation, what the valuation translates to in terms of the amount of property tax due, what were the overall stats for our area, and what to do if you believe that your valuation is incorrect.

HOW DOES THE ROUTT COUNTY ASSESSOR DETERMINE A PROPERTY’S VALUE?
The “Actual (Market) Value” shown on your Notice of Valuation (NOV) is based on what is known as an “Effective Appraisal Date” of June 30, 2016. The appraisal collection period is the 24 months prior to June 30, 2016, and the appraisers in the assessor’s office determine the actual value using appraisal standards and methods. The appraisers will take the information for sales that occurred over the collection period for similar types of properties, and use that information to formulate the “actual value” or “market value” for each property in Routt County. Most property types saw an increase in values over the previous collection period which ended on 6/30/2014.

Steamboat Springs, CO Real Estate Report

Friday, May 5th, 2017

Steamboat Springs, CO Real Estate Report

As many of you know there has been a lot of buzz around the recent acquisition of the Steamboat Ski Area by Aspen Skiing Company and KSL Partners. And now that the the dust has settled a little, many of you are probably wondering what this might mean for the real estate market here in Steamboat Springs. My thoughts on the subject are that this is a positive step for the future of the community. The esteemed new owners will almost certainly have a positive impact on improvements and development in and around the base area. Real estate, especially that which focuses on second home and holiday investors, should see some growth as buyer confidence rises. This may have been the nudge that on the fence buyers were looking for. However Steamboat Springs is a destination town and growth is largely limited by employment. The sale of the Steamboat Ski Area does not directly bring jobs to our valley. For this reason it is unlikely to have a direct impact on primary residences.