Homeowners across metro Denver should brace themselves for notices of property valuation arriving soon in the mail that will weigh heavily on property taxes during the next two years.
The short of it: Property taxes are going to go up, and for many, they’re going way up.
That’s the news from seven metro-area county assessors, who on Tuesday held a news conference to announce spikes in median home property valuations, ranging from about 17 percent for single-family homes in Douglas County to 40 percent for all homes in Adams County.
In those counties — as well as in Arapahoe, Boulder, Denver, Elbert and Jefferson — property tax increases will vary greatly, depending on factors such as neighborhood popularity, amount of new construction and affordability.
That last group will be among those hit the hardest.
“Neighborhoods that had among the lower property values in 2014 are seeing the largest percentage increases in Denver, though each neighborhood has seen growth,” Denver County Assessor Keith Erffmeyer said at the news conference.
And for homeowners, the increase in a valuation doesn’t by itself dictate how much more they’ll pay in property taxes.