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Rio Blanco County Assessor

The Property Assessment Process

About the Assessment Process
The assessment process is the basis for generating property tax revenues that pay for schools, roads, fire protection, police protection, and other local services. Revenue generated by property taxes stays within the county. Property taxes do not support state services.
The Assessor The Rio Blanco County Assessor is responsible for discovering, listing, and valuing all property within Rio Blanco County, and must follow state laws when meeting these responsibilities. The assessor's goal is equalization of property values; therefore, the burden of taxes is distributed fairly and equitably between property owners.
The Taxpayer You have specific rights, remedies, and responsibilities in the assessment process. If you disagree with your property value, you may file an appeal with the assessor. You have the responsibility to work with the Assessor to insure accurate information about property you own, and to participate in budget hearings held by school boards, cities and towns, and special districts which levy taxes on your property.
Notice of
Valuation		 The assessor is required to notify you of your value each year for real property. The notice describes the property you own, gives actual value for the prior and current year, and provides an opportunity for you to present your objection to the assessor. When you receive a Notice of Valuation, study it carefully. Deadlines for appeal are statutory and enforced. For those properties not changing in value during the intervening year, the value listed on your tax bill received in January is the assessor's notification of value for the coming year.

During intervening (even-numbered years), only those real properties increasing in value from the previous year will receive a Notice of Valuation.
 
How Property is Valued
Discovering,
Listing, &
Valuing Property		 The assessment process involves discovering and listing information about properties and determining property values. It involves analyzing values to ensure they meet standards of fair assessment and certifying the assessment roll to the appropriate taxing authorities. To ensure equalization, the assessor must determine residential property values by using appropriate market information. Values for most other properties are determined from relevant cost, market, and income data.
 
Uniform Assessments Are Part Of The Property Tax Process
Uniformity of
Assessment		 After properties have been appraised, values are analyzed to ensure accurate and equitable assessments. Colorado law requires assessors to value property at a specific level and within certain uniformity standards. This provides equity in distribution of state school funding, local tax burden, and assessments that cross county lines.

To ensure proper levels and uniformity standards are being followed by the assessor, an independent auditor, contracted by the Legislative Council, conducts an annual 1% study of all property in each county. Findings of the annual study are reported to the State Board of Equalization each year.
 
How Property Taxes Are Calculated
Property Taxes Property taxes are determined by multiplying the tax rate (set by local Government entities) by the assessed or taxable value of property.

Assessed values are calculated by multiplying the actual value by 7.96% for residential property and by 29% for other property. The residential assessment percentage is subject to change by the Colorado Legislature, as prescribed by the Gallagher amendment, each-odd numbered year. By Constitutional mandate, the change in percentage maintains the present balance of the tax burden between residential and all other taxpayers.
Local Government
Budget Process		 Each year county commissioners, city councils, school boards, and special districts hold budget hearings to determine how many dollars will be needed for the following year's operations. Check your local newspaper for the hearing dates. Attend budget hearings to become informed about the quality and cost of services in your area. Find out which items can be cut or trimmed and which ones cannot because federal and state governments require certain programs, such as social services.
Calculating the
Tax Rate/
Mill Levy		 The tax rate and mill levy are two different methods of expressing the same information. Tax rate is expressed in percentage; mill levy is expressed in mills (1 mill = $1 of property tax for every $1,000 of assessed value). Each taxing entity determines what revenues will be required to operate the entity during the coming fiscal year. The required revenues are then divided by the total assessed value to determine the tax rate/mill levy per entity.

Example:

The total assessed value for the county, as determined by the assessor, is $100,000,000.

The county commissioners determine the budgeted property tax revenue to be $1,398,000.

$1,398,000 (tax revenue) divided by $100,000,000 (assessed value) =

1.3980% (tax rate) or 13.98 mills (mill levy).

Therefore, the county tax rate is $13.98 in revenue for each $1,000 of assessed value.

Generally, properties are affected by several taxing entities. To determine the total tax rate, sum the tax rates for each entity that impacts the property.
Calculating
Property Taxes		 Taxes are calculated using this formula:

Actual Value x Assessment Rate = Assessed Value.

Assessed Value x Mill Levy = Taxes Due.

Example (Residential Home):

Actual Value       $ 200,000
 
Assessment Rate x       7.96%
 
Assessed Value       = $15,920
 
Example Mill Levy       x .074000
 
Taxes Due       = $ 1,178.08
Paying Property
Taxes		 The county treasurer is responsible for mailing and collecting the tax bill. Each year, the treasurer sends the property tax bills to taxpayers after January 1.

You can pay taxes in two equal payments: the first-half payment is due in the treasurer's office by February 28; the second-half payment is due by June 15. If you elect to pay your taxes in one payment, it is due by the last day in April. If your payment is late, a penalty is added to the tax amount. For further information, visit the Rio Blanco County Treasurer web site or contact the Treasurer at 970-878-3614.


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