Notice of Valuation to be mailed first week of May
Published on April 28, 2021
Weld County residents are encouraged to check their mailboxes as the Assessor’s Office will be mailing Notice of Valuation (NOV) postcards to owners of real property at the beginning of next month. Property values are reflective as of June 30, 2020, and the notice captures a two-year change in value from June 30, 2018, as required by state law.
The value of residential property was determined by market sales data from January 1, 2019, through June 30, 2020. Factors that influence value include the sale price of comparable properties in the area, the square footage of property and any additions made to the property within the last two years. According to Weld County Assessor Brenda Dones, residential property value throughout the county continues to increase due in large part to limited inventory and an increased interest in living in northern Colorado.
Commercial values also saw large increases from January 2019 through March 2020. But when the pandemic hit, the commercial market stalled.
“Commercial values are primarily based on sale prices and lease rates — we do not value the business operations. So, we evaluated whether attempts to contain COVID-19 restricted the use of properties and if those restrictions impacted real estate values,” Dones explained. “Overall, most commercial property owners will see an increase from the prior cycle, but some increases have been tempered by a change in activity in the market.”
Property owners are encouraged to review their NOV carefully. Residential homeowners can type in their address on the Weld County Property Portal to review their property characteristics. They can also click the sales search tool to compare their value to the sale price of comparable homes in the area. Remember, only market sales from January 1, 2019 to June 30, 2020 were used for valuation and not every property characteristic will affect the value. Property owners can also obtain a digital version of their NOV by typing their address into the property portal, selecting property report then selecting NOV.
Property owners who do not agree with their assessed value may protest it through the Assessor’s Office. State law states the last day to protest is June 1, but due to a county closure on that date*, the Assessor’s Office has extended the date to June 2. Protests must be made, electronically filed or postmarked by midnight on June 2, 2021. Protests can be made by:
- Calling (970) 400-3650 or (720) 652-4255 to make an appointment to speak with an appraiser over the phone.
- Emailing email@example.com.
- Filing an online appeal.
- Mailing or faxing an appeal to the Assessor’s Office. Instructions will be on the NOV as well as on the Assessor’s webpage.
“Values in the NOV become property tax next year after local governments set their mill levies,” Dones explained. “That’s why those with concerns about their value should let us know so we can review them and get it right.”
*Twelve holidays are decided by the board each year in December. Some of these days rotate, and this year June 1 extends observance of Memorial Day.