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Valuation Appeals - Should you Appeal?
If the monetary cost and the hassle out-weigh the real tax savings, you should not bother to make a protest, but if your tax savings appear to be significant, you should go ahead and make the protest.
So how do we evaluate the tax savings? Below is a chart of some samples of theoretical tax savings that result from successful protests that lower the valuation of your property. Remember that this valuation will affect your taxes over the next TWO years.
Projected Tax Savings Calculated by Valuation Reduction |
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Telluride, Ophir, & Norwood |
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Homes & Condos (taxes for 2009 = roughly .003 of your valuation) |
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2 year savings basically equals .006 of the valuation reduction you get |
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Valuation Reduction |
1 Year Savings |
2 year Savings |
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$50,000 |
$150 |
$300 |
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$100,000 |
$300 |
$600 |
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$150,000 |
$450 |
$900 |
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$200,000 |
$600 |
$1,200 |
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$250,000 |
$750 |
$1,500 |
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$500,000 |
$1,500 |
$3,000 |
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Commercial & land (taxes for 2009 = roughly .011 of your valuation) |
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2 year savings basically equals .022 of the valuation reduction you get |
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Valuation Reduction |
1 Year Savings |
2 year Savings |
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$30,000 |
$330 |
$660 |
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$50,000 |
$550 |
$1,100 |
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$100,000 |
$1,100 |
$2,200 |
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$150,000 |
$1,650 |
$3,300 |
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$200,000 |
$2,200 |
$4,400 |
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$250,000 |
$2,750 |
$5,500 |
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$500,000 |
$5,500 |
$11,000 |
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Note: These are only PROJECTED tax savings and these numbers could vary greatly |
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if mill levys change and if voters vote in new bond issues etc. |
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Mountain Village
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Homes & Condos (taxes for 2009 = roughly .004 of your valuation) |
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2 year savings basically equals .008 of the valuation reduction you get |
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Valuation Reduction |
1 Year Savings |
2 year Savings |
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$50,000 |
$200 |
$400 |
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$100,000 |
$400 |
$800 |
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$150,000 |
$600 |
$1,200 |
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$200,000 |
$800 |
$1,600 |
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$250,000 |
$1,000 |
$2,000 |
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$500,000 |
$2,000 |
$4,000 |
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Commercial & land (taxes for 2009 = roughly .015 of your valuation) |
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2 year savings basically equals .03 of the valuation reduction you get |
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Valuation Reduction |
1 Year Savings |
2 year Savings |
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$50,000 |
$750 |
$1,500 |
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$100,000 |
$1,500 |
$3,000 |
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$150,000 |
$2,250 |
$4,500 |
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$200,000 |
$3,000 |
$6,000 |
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$250,000 |
$3,750 |
$7,500 |
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$500,000 |
$7,500 |
$15,000 |
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Note: These are only PROJECTED tax savings and these numbers could vary greatly |
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if mill levys change and if voters vote in new bond issues etc. |
Most of Rest of County (except Wilson Mesa) |
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Homes & Condos (taxes for 2009 = roughly .0025 of your valuation) |
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2 year savings basically equals .005 of the valuation reduction you get |
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Valuation Reduction |
1 Year Savings |
2 year Savings |
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$50,000 |
$125 |
$250 |
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$100,000 |
$250 |
$500 |
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$150,000 |
$375 |
$750 |
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$200,000 |
$500 |
$1,000 |
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$250,000 |
$625 |
$1,250 |
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$500,000 |
$1,250 |
$2,500 |
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Commercial & land (taxes for 2009 = roughly .009 of your valuation) |
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2 year savings basically equals .018 of the valuation reduction you get |
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Valuation Reduction |
1 Year Savings |
2 year Savings |
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$50,000 |
$450 |
$900 |
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$100,000 |
$900 |
$1,800 |
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$150,000 |
$1,350 |
$2,700 |
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$200,000 |
$1,800 |
$3,600 |
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$250,000 |
$2,250 |
$4,500 |
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$500,000 |
$4,500 |
$9,000 |
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Note: These are only PROJECTED tax savings and these numbers could vary greatly |
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if mill levys change and if voters vote in new bond issues etc. |
It must be noted that San Miguel County is NOT governed by Colorado’s Tabor Amendment which limits the County’s yearly budget increases by 5% (and therefore limiting your personal tax increase). A few years ago, by a ballot vote, the voters of San Miguel County opted out of being ruled by the Tabor Amendment; therefore eliminating the 5% increase cap.
If we determine that there is sufficient market data or physical differences to prove that your property has been over-valued significantly as of LAST YEAR up to June 30, 2008, then it could definitely be worth your while to file a protest.
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