Occasionally, we catch up with our colleagues at the Fort Collins Coloradoan about the stories they’re following. This time, Business Reporter Pat Ferrier joined us.
Property valuation season is here again, bringing with it a shocking 40% increase in values in Larimer County.
Ferrier told KUNC’s Nikole Robinson Carroll this morning the jump can be attributed to low mortgage rates and low supply.
“We saw people paying tens of thousands of dollars over asking price, and that now is coming back into play with the valuations of all of our property, because those are based on comparable sales around our neighborhoods.”
Ferrier said the situation could be good news for people looking to sell, but taxpayers might want to contest valuations.
An application to dispute your evaluation is enclosed with each mailed notice. Residents can also protest their evaluations on Larimer County’s website.
“If you bought or sold a home recently and you want to do that valuation by your local realtor,” Ferrier said, “it doesn't hurt to get in touch with them. And they might be able to give you some advice for free.”