DENVER — In a biennial revaluation of property, several metro-Denver area assessors announced "residential properties have remained relatively flat, and in some cases, even decreased."
Assessors from Denver, Adams, Arapahoe, Boulder, Broomfield, Douglas, Jefferson and Larimer Counties made the announcement Wednesday.
"I got to say, it's been a whirlwind," Toby Damisch, the Assessor for Douglas County. "If there's a headline for us in Douglas County this year, it is breathing a sigh of relief, because after the reappraisal in 2023 we're finally in 2025 experiencing a situation for the first time in maybe 10 or 12 years, where our values are not going up significantly."
Damisch went on to say Douglas County is, "experiencing flat values really, across all property classes. So in residential, for instance, our median value changes negative three and a half percent."
A similar message was echoed by Keith Erffmeyer, the assessor for the City and County of Denver. "Many homeowners of single unit residential properties in Denver, including houses, townhomes and condos, will see their property valuation stay relatively similar in 2025 to their valuations in 2023," he said.
The relief comes after experienced turmoil when the reassessment was announced in 2023.
"I got to say, it's been a whirlwind," Damisch said. "Those of you here all know that it was a pretty extreme situation in '23. A lot of drama, a lot of stress, not just for the Colorado assessors and their staff, but for homeowners across the state of Colorado. So, I for one am thrilled we are not in that boat."
In Adams County, assessor Ken Musso said conditions were similar to those in Denver and other counties. He added "sales were limited compared to the last cycle due to higher interest rates and market uncertainty, most of the residential markets areas in Adams County showed a decrease in value from -2 to -6%."
It was a very similar story in Arapahoe County, where assessor PK Kaiser said "in our county, the residential properties remained mostly smooth," adding, "We overall were expecting 1% increase county wide, but many in residential values are seeing the loading property value as compared to 2023."
In Boulder County, assessor Cynthia Braddock said the "review and analysis of sales reveal very moderate changes in value over the 23-24 cycle for single family, town homes and condo residential properties values are flat."
Braddock went on to say the "changes reflect the stable nature of our real estate market, which remains robust and resilient despite being lower values this time around."
The only county that saw a bit of a different story was Jefferson County. Assessor Scot Kersgaard said "we might be the only county reporting an increase in residential values, but it's a small increase, median of about 2%. About 65% of residential properties went up 5% or less, or went down."
With most property values remaining "relatively flat", assessors maintained it's likely the average homeowner won't see a huge increase in their property tax bill come 2026, though it's not set in stone.
Some valuation notices have gone out, but the property tax amount isn't expected until closer to the end of the year.
"The short answer is the very, very end of the year, and that often is then published on the assessor's websites, which is followed by tax bills being sent by the treasurers in January," said Erffmeyer.
Assessors also acknowledged the price of homes in the state during Wednesday's meeting.
"I want to finish with with this that despite the flat values in residential we still acknowledge in the assessor's office that the cost of home ownership in the state of Colorado is the highest it's ever been. Property taxes are at an elevated level. Home Insurance is at an elevated level, pricing and interest rates are all still high, and it's a very serious problem," said Damisch.
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