Ask Your Assessor

The Assessor’s office values all property in the county. Residential property is valued using only the market approach to value. In this approach the value of the subject property is based on an analysis of comparable sales that occurred during a specific time frame.

For tax years 2023 and 2024, the comparable properties must have sold between January 1, 2020 and June 30, 2022. Pitkin County used the 18-month timeframe for the 2023 revaluation.

The State of Colorado statutes state that if insufficient data existed during the specified timeframe, data from each preceding six-month period may be utilized.

Pitkin County will use July 1, 2022 through June 30, 2024, a 24 month timeframe, for the 2025 Revaluation.

Property tax bills in Colorado are calculated through a structured methodology that combines several key factors, defining the amount owed by property owners. Property taxes are calculated using the actual property value, the assessment rate, and the mill levy using the formula: 

Actual Value x Assessment Rate = Assessed Value x Mill Levy = Taxes Due.

After the Actual Value by the Assessor’s office the next step is the calculate the Assessed Value of the property.

In Colorado, the state uses a uniform assessment rate set by the state. 

For tax year 2024, the State of Colorado assessment rate was 6.7% for residential and multi-family. All non-residential rates were 27.9%.

Multiplying the actual value by the appropriate assessment rate results in what is known as the property’s “Assessed Value.”

$1,500,000 (Actual value) x 6.7% (.067) (Assessment Rate) = $100,500 (Assessed Value)

In November 2023, Colorado Legislature held a special session and passed SB23B-001. This bill increased the residential reduction from $15,000 set in 2022 to $55,000 and lowered the residential assessment rate from 6.765% to 6.7%. The original $30,000 reductions for commercial properties from SB22-238 remain.

Residential:

$1,500,000 (Actual Value) – $55,000 = $1,445,000 (New Actual Value) X 6.7% (or 0.067) (Assessment Rate) = $96,815 (New Assessed Value) Residential

Commercial:

$1,500,000 (Actual Value) - $30,000 = $1,470,000 (New Actual Value) x 27.9% (or .297) (Assessment Rate) = $436,590 (New Assessed Value) Commercial

All residential properties in the State of Colorado received a $55,000 reduction in value, and all commercial received the $30,000 reduction

The Mill levy is the tax rate used to calculate the tax bills of individual properties within a tax area or district. Each taxing authority/special district determines how much revenue from property taxes they require for the following year and divides that by the total assessed value of the properties within their established boundaries, as supplied by the Assessor. The resulting tax rate is multiplied by 1,000 to come up with the mill levy. The Mill levy is expressed in mills (1 mill = $1 of property tax for every $1000 of assessed value. The Tax rate is expressed as a percentage. For instance, if a local mill rate is set at 20 mills, property owners would owe $20 for every $1,000 of their assessed property value. 

Each year in the fall, county commissioners, city councils, school boards, hospitals, fire departments, governing boards of special districts, sanitation and water districts & metro districts get together to discuss the budgets and levies to determine the revenue needed and allowed under the law to provide services for the following year.

For example: 

Revenue from Property Tax needed to run the district for the year is $1,398,000. 

Total Assessed Value of all properties within the district’s boundary is $100,000.

$1,398,000 divided by $100,000 = .013980 or 13.980 mills (Mill Levy) needed.

Before a Special District/Taxing Authority can finalize their budget for the following year they need a Certification of Values. Certification of Values is a process by which the Assessor reports value and revenue information to each taxing entity for all property within its boundary. 

On August 25, the Assessor certifies total values to the Department of Education and the various taxing entities within the county (§ 39-5-128, C.R.S.). The entities use the data to calculate their property tax rates (mill levies), calculate revenue and spending limitations, and decide whether or not they must ask the voters for additional funds. If valuation changes occur after certification, the Assessor must notify the entities of these changes prior to December 10 (§ 39-1-111(5), C.R.S.). This is the final certification for the year.  Changes between the abstract and tax warrant should be documented so that the Assessor can justify those changes, if requested to do so.

Before the Certification of Values can be finalized, the Assessor prepares an Abstract of Assessment report (a summary of assessed value by class and subclass of property) which is for official use by the State Board of Equalization and the Division (§ 39-5-123, C.R.S.).

The Assessor files the Abstract of Assessment (Abstract) with the State of Colorado Property Tax Administrator no later than August 25th of each year. The Abstract is a snapshot of the county’s values broken down by class code. The ten property classes, as established by the State of Colorado Department of Property Taxation are: vacant land, residential, commercial, industrial, agricultural, natural resources, producing mines, oil and gas, state assessed, and exempt property. Within each property class, various subclasses are designated. The various subclasses are assigned a four-digit code for identification purposes. 

The Abstract also includes special districts, taxing authorities, schools, personal property, religious, government, cities, towns, fire departments, sanitation and water districts & metro districts.  

The data included is the basis for the certification of values to the various taxing entities. The abstract data collected from each county is included in the Annual Report to the Governor and the General Assembly.

In Colorado, the Assessor delivers the balanced tax roll (warrant) to the county Treasurer by January 10th. The tax roll is a public document that lists all property owners in the county and the taxes owed. The treasurer is responsible for collecting all taxes listed on the warrant. 

How the process works

1. The Assessor values all taxable property as of January 1st. 

2. The Assessor prepares the tax roll (warrant), which lists all property owners, their property descriptions, and the taxes due. 

3. The Assessor delivers the tax roll to the Treasurer by January 10th. 

4. The Treasurer collects all taxes listed on the warrant. 

5. The Treasurer mails tax statements to property owners by the end of January. 

6. The tax warrant is a public document that can be inspected by the public in the Assessor's office. 

7. The tax roll is prepared and maintained by the County Assessor. 

Home Rule gives citizens at the grass-roots level the authority to manage their own government affairs. This is done by the adoption of a Charter, which defines the structure of government. The Charter can be changed by the vote of the citizens. Without Home Rule, the Colorado Legislature determines both the form and function of county government. 

Home Rule as a concept of local government is uniquely American and was developed originally in relationship to municipal government. In 1902, Colorado adopted Article XX of the Colorado constitution, which allowed municipalities to adopt a home rule charter. In 1970, an amendment to Article XIV was adopted by the voters of Colorado which among other things authorized counties to form a limited version of home rule.

The charter brings government closer to the residents of Pitkin County and gives them the authority to manage their own affairs. Changes in the charter are permitted by a majority vote of the residents.

In general, Home Rule ordinances supersede state law; however, in matters of statewide or mixed concern, state laws may take precedence over conflicting home rule ordinances. Without a Home Rule Charter, local governments must strictly adhere to the laws of the state.

On March 21, 1978, Pitkin County voters (352 votes) established the Home Rule Charter. The Home Rule Charter provides us with specific powers such as representation by five county commissioners versus the state norm or three. The Pitkin Board of County Commissioners are the principal elective heads and sole legislative authority of county government. 

Each county commissioner represents a designated district and are elected “at large” by all the voters in Pitkin County. They are limited to three consecutive terms. The Board of County Commissioners (BOCC) represent all of the citizens of Pitkin County and are obligated to ensure our Home Rule Charter continues as voted on by the electorate.

There are only two counties out of the 64 counties in Colorado that have adopted the Home Rule Charter. Weld is the second one. As of 2025 there are 102 Home Rule cities and towns in Colorado. Included in Pitkin County are the city of Aspen, Town of Snowmass Village and Town of Basalt.   

Did you know that Colorado is tied with Nevada as having the 3rd lowest tax rates in the United States, Hawaii and Alabama are number 1 and 2. The highest tax rate in the country belongs to New Jersey followed closely by Illinois, Connecticut, New Hampshire, Vermont, New York, Texas and Wisconsin.

This graph breaks down how much of your tax dollars are used per taxing authority. 

Most people believe that because Pitkin County has such a high property value that the county has unlimited amounts of money to spend. The truth is, Pitkin County is restricted from collecting no more than 5.5% of the total revenue received by property taxes because of the Home Rule Charter. Revenue can only be increased from new construction and connected personal property, annexation or inclusion, omitted property, abatements or revenue, previously exempt property, producing mines and oil and gas. As you can see on the graph, Pitkin County General fund, I the grey, is a very small portion of your taxes. The general fund covers all expenses for Pitkin County not covered by another specific revenue. Other specific revenue sources include Pitkin County Open Space, Pitkin County library, Road and Bridge, Social Services, Healthy Community Fund and TV Translator fund. The revenue collected from these sources cover those and are not included in the general fund.

For more information on the breakdown of Pitkin County’s general fund and where it is being used please visit Pitkincounty.com, scroll to the bottom and click on OpenGov then click on continue to destination.

Property is valued every two years for property tax purposes. This process is called Reappraisal/Revaluation and it occurs every odd year, 2023, 2025, 2027, etc.

According to Colorado law, only sales from a specific time frame can be used to value residential property. Property is valued as of an appraisal date, which for 2025 this period is from July 1, 2022 to June 30, 2024.

Only comparable sales from this time period will be used for the reappraisal. Our goal is to establish accurate values, so the tax burden is distributed fairly and equitably among all property owners. For valuation purposes Pitkin County is divided into areas – Aspen, Snowmass Village, Snowmass, Basalt, Carbondale, Redstone, Thomasville and Meredith and by the types of properties within each area: Vacant, Residential, Condos, Commercial, Industrial and Agricultural.

Appealing your property valuation is not a protest about paying higher taxes; taxes cannot be appealed through the Assessor’s office.

A valuation protest is an attempt to demonstrate that your property’s estimated market value is inaccurate. It is possible that the Assessor’s records of your property are incorrect. Sales of similar properties that sold in your immediate area may provide evidence of a lower market value.

On May 1 st every other year the Assessor’s office mails each property owner a Notice of Value. This notice is the appraised value of your property. After receiving your postcard, we recommend that you visit - www.PitkinPropertySearch.com to review your property’s characteristics. Also, visit www.Pitkincounty.com/Assessor and visit the Comparable sales section to view Comparable Sales to view sales in your area that were used to set values. Next, visit the Appeals section of our website for valuable information on how to appeal. Remember: The value stated on your Notice of Valuation is an estimate of your property’s worth on June 30, 2024.

If you feel that your value is not fair and equitable , come talk to us. WE WORK FOR YOU! It is free for you to file your own appeal.

The Pitkin County Assessor’s office will always have your best interest in mind. We are happy to talk with you and are always willing to listen. We pledge to work for the citizens of Pitkin County by employing the best, most professional, friendly and courteous staff while applying fair and equitable assessments to all. It is our privilege to serve the citizens of Pitkin County. 

If you feel your valuation is incorrect after reviewing sales and characteristics for your property, you may appeal your property valuation to the Assessor between May 1 and June 9, 2025.

Assessor-level appeals may be filed by filling out the protest form on the Assessor website and either emailing, mailing or bringing it in person to our office or by filling out the back of the appeal form that is part of the Notice of Valuation postcard and emailing, mailing or returning it in person. Please be sure to include any information you have gathered in your research to support your appeal. The Assessor will make a decision and mail a Notice of Determination to you on or before June 30.

If you are denied through the Assessor-level appeal but still disagree with the Assessor’s valuation, you may file an appeal with the County Board of Equalization (CBOE) between July 1st and July 15 th . The CBOE will schedule and complete appeals by August 5 th . The information to file with the CBOE will be on the Notice of Determination that we send you.

Once the appeal goes to the CBOE (County Board of Equalization) the Assessor’s office is no longer in charge of the appeal process. All questions and concerns should be brought to the attention of the Clerk to the Board. Pitkin County hires hearing officers to hear the appeals and once the decision is made by the hearing officer the Assessor’s office can’t change it. The Notice of Determination from the County Board of Equalization will notify you of their determination within 5 business days after August 5th.

If you are not satisfied with the County Board of Equalization’s decision you may go further with your appeal. The next steps would be either Arbitration, BAA (Board of Assessment Appeals) or District Court. Instructions on how to further your appeal will be on your Notice of Decision mailed by the CBOE.