Over the past month everyone in the Grand Valley area has received their new property value from the Mesa County Assessor office. Many people I have been speaking with are concerned over the assessed value of their property.
Here is how the assessor values property.
Real property must be revalued every odd numbered year.
The actual value of real property is based on its value as of the appraisal date, which is June 30th of the year prior to the reappraisal year.
Residential property may be 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 to predict the price properties would have sold for on the Appraisal date.
For tax years 2012 and 2013, the assessor must use a minimum of the comparable sales between January 1, 2011 and June 30, 2012. However, the assessor is authorized to include and analyze additional sales that occurred up to five years preceding June 30, 2012, adding sales in six month increments.
A comparative market analysis that a Realtor puts together is an up to date value of your home based off of the area your home is located in, age of the home, and acreage. Other items to be considered are amenities such as the finishes in the home.
The most recent market values that I have completed for sellers have values coming in greater than the assessor property valuation. This is great news for those that want to sell.
The difference between an assessed value and a Realtors value is that Realtors are putting together real time valuations for properties.
To get an up to date market value on your home contact a Andrea Haitz, Lead Listing Specialist with the Keller Williams Diva Team to put together a market analysis for you. 970-201-3578
By Andrea Haitz, CEO Diva Team