ARVADA, Colo., April 29, 2011 /PRNewswire/ -- The updated version of the 1991 best seller edition of OVERTAXED! Your Guide to Honest Property Tax Reductions is available free at ETomlinson.HomesInColorado.com
Starting May 1st Colorado Assessors are sending out new reassessment notices to 2.5 million property owners.
For the May 2011 valuation reassessment changes by county go to page 8, Addendum E.
Colorado property owners received hundreds of millions of dollars in property appraisal reductions plus refunds of $53 million in the 2009 reassessment year.
Since county assessors update property appraisals every other year, it is in property owners' best interest to find out what their role is in the tax assessment system.
Over $6.8 billion is collected in property taxes each year in Colorado, the largest collection of taxes outside of federal income taxes. The property tax system includes over $600 billion of real estate value. In such a large system, mistakes are bound to be made-mistakes which can cost the property owner a bundle.
Property values are determined by a computerized Mass Appraisal Method used by all county assessors. While the system results in fairly accurate overall results, assessors recognize that it also results in many properties being appraised higher than they should be.
For residential properties, 36 seconds is the time allocated to determine property value or three minutes for a drive by appraisal. Assessors try to drive by all properties once every ten years and make a physical inspection once every 100 years.
Arvada homeowners can request Ed Tomlinson to review their assessment and protest for free. No strings attached.
Commercial and industrial property owners will also benefit from the book or can contact Ed Tomlinson to protest for a 25% success only fee.
Ed C. Tomlinson
RE/MAX Alliance 5440 Ward Road, Arvada Colorado
Cell 303 596 5555 Office 303 456 2135 Fax 303 420 5232
SOURCE Ed Tomlinson