PROPERTY TAXES 201. An interactive workshop with the goal of providing a clear understanding of the property tax system!

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1 PROPERTY TAXES 201 An interactive workshop with the goal of providing a clear understanding of the property tax system!

2 This is an informal workshop setting, ask questions, OK? We ll be done by 9 PM! Property Taxes tax roll year Introduction who am I? David B. Wissel, Park County Assessor Certified General Appraiser #CG I began working for the Park County Assessor s Office on 6/18/1979 I was appointed Assessor on October 6, 1980, and still serving! Other Community Activities: President, Upper South Platte Water Conservancy District 1985 Park County Land & Water TF Advisory Board 2002 Chairman, Headwater Authority of the South Platte (HASP) 2007 A VERY SPECIAL THANK YOU TO GARY NICHOLS FOR ALL OF THE NICE PICTURES! AND CARLY PROCHAZKA FOR HER ASSISTANCE AND POWERPOINT SKILLS!

3 PARK COUNTY GEOGRAPHY

4 PROPOSED AGENDA Introduction Opening Remarks Review the history of property tax policy changes Constitutional amendments 1982 Amendment #1 forward Appraisal methods a. Cost Approach b. Income Approach c. Sales comparison (market) approach Property types a. Real b. Personal c. Possessory Interests

5 Proposed Agenda (cont d) Administrative Remedies (Appeal options) Performance Standards SBOE Appraisal Standards USPAP Certification of Values Budget Calendar & Public Hearings Final Certification of Values & Adoption of Levies Annual Calendar of Assessment Available data & services from our Office Questions review what isn t clear Adjourn & go home!

6 CODE OF THE WEST Good old fashioned country common horse sense 1. Live each day with courage 2. Take pride in your work 3. Always finish what you start 4. Do what has to be done 5. Be tough, but fair 6. When you make a promise, keep it 7. Ride for the brand 8. Talk less, say more 9. Some things are NOT for sale 10. Know where to draw the line STAND TALL & SHOOT STRAIGHT!

7 What Does the Assessor Do? The Assessor is responsible to locate, identify, and value all taxable property within the boundaries of each county. We create the tax roll each year, which we deliver to the Treasurer s Office to collect. We manage and administrate the property tax system, including ownership, location, legal description(s), and value. We offer a significant amount of public data, with a helpful and friendly staff of outstanding professionals!

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9 My 38 Year Journey In The Assessment Business In order to know where the future path leads, I believe it is most helpful to know where you came from, as history is doomed to repeat itself. That is why we start with a review of past actions and events that have affected and impacted this diverse system. When I entered this Office, as an entry level employee in the summer of 1979, all property in Colorado was appraised at 30% of the total actual value, except 38 exceptions I haven t seen it all, but I have seen significant changes over these many years I don t know it all, but I continue to learn and grow, and roll with the flow!

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11 Why Are You Making It So HARD to GIVE YOU MY MONEY? The Customer For Life Philosophy Waymish.com

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14 Why Do We Keep Property Values Current, Every Two Years? The basis for all of our effort as the Assessor s Office is to equally distribute the $6.23 Billion ( adopted budget), dedicated to Kindergarten 12 th grade (K 12) education, from the State of Colorado, out of a $27 + Billion total state budget. Under a normal split, funding is 66% from state funds and 34% local dollars together are to support total funding. Today, the State is funding 21% of the mix. If we don t achieve equalized values throughout and within the State, then the fair distribution of these funds won t be accomplished

15 *** A requirement of statute. Notice of Valuation Important Information 2017 Reappraisal Sales Data Collection Period Appraisal Effective Date June 30, 2016 PARK COUNTY ASSESSMENT DATE EACH YEAR IS JANUARY 1ST Park County Collection Period Sales Period Begins CURRENT DATA COLLECTION PERIOD FOR TAX YEARS Previous Data Collection Period 2017 & 2018 SALES AFTER For Tax years 2015 & 2016 June 30, 2016 CANNOT BE USED June 30, 2010 June 30, 2014 June 30, 2012 June 30, 2016 *** Appraisal Date **Assessment Date Present Date * * 6/30/2012 6/30/2014 6/30/2016 * SALES FROM PREVIOUS YEARS **Values are based on condition and MAY BE USED IN 6-MONTH level of property completion as INCREMENTS of the Jan. 1 Assessment date.

16 Constitutional Amendments 1982 Amendment #1 Referred to the people by the general assembly studied by a citizens committee Gallagher amendment residential property pays only 45% of the total property tax, all other property will pay the other 55% Residential rate designed to float, to insure compliance with this ratio - the current rate is now 7.2% Initially the residential assessment rate set in 1983 was 21% Set all other property at a 29% assessment rate in the constitution no change by law, only by changing the constitution.

17 1982 Amendment # 1 (cont d) State Board of Equalization can issue Reappraisal orders for noncompliance with mandated appraisal related performance standards. Payback of excess K-12 school aid by all county residents, not just the property owners within that district. Designated the Cost & Market approaches only for residential property appraisals. Prescribed the appointment of the Property Tax Administrator by the newly re-structured State Board of Equalization, outside the State Personnel system.

18 1992 TABOR (Taxpayers Bill of Rights) Amendment Bruce began his petition (initiative) efforts in 1988, (lost) & 1990 (lost) finally successful as this initiative passed in 1992 with a 53% yes vote. Mandated multi-faceted changes to the property tax system enabling statutes had to address new conflicts with existing statutes, existing constitutional provisions, and this amendment! Eliminated the Cost approach, now only the Market (Sales Comparison) approach can be used for residential property appraisals.

19 TABOR (cont d) Mandated 2 types of spending & revenue caps! Interesting fact: Statutory property tax limits were already in place! At that time, the limit in State law (as now) was 5.5%, plus a local growth factor, above the previous years revenue, per taxing entity. RESTRICTS THE RATE OF GROWTH OF ALL STATE & LOCAL GOVERNMENT REVENUES TO THE LOWEST POSSIBLE LIMIT- BASED ON THE DENVER / BOULDER CPI INDEX, PLUS A LOCAL GROWTH FACTOR. THE MOST RESTRICTIVE TOTAL DOLLAR AMOUNT OF THESE TWO BUDGET CALCULATION METHODS MUST BE USED BOTH REVENUES & EXPENDITURES! LOCKS IN ALL EXISTING TAX POLICY LAW, AND REQUIRES STATE WIDE VOTER APPROVAL TO THOSE FACTORS.

20 1. Ratchet effect voter approval is required by each taxing authority for all tax increases, regardless of economic conditions, or when total assessed values decline. 2. Set specific requirements for pro / con statements, notice, & ballot language shall property taxes be increased 3. All fiscal / tax issue elections only held each year in November. 4. State government revenue & spending limits fixed at 6%* *Legislation to repeal this historic revenue limit passed the General Assembly in 2009 The residential assessment rate, as clearly stated (adopted in 1982 by Gallagher), can not be increased without statewide voter approval, (Tax Policy Changes) Residential rate should have been 8.24% WILL COLORADO HOMEOWNERS EVER VOTE THEMSELVES A TAX INCREASE??

21 History of the Residential Rate Prior to 1983, all property was assessed at 30% % % % % % % % % %* % % %* %* %* %* %* %* % * Residential Assessment Rate Study indicates a higher rate than is allowed by TABOR

22 Referendum A SINGLE SUBJECT RULE Limits offering or approval of ballot issues by the people of Colorado, by Initiative or Referendum, to a single subject. Intent was to prevent future TABOR s Referendum A - HOMESTEAD EXEMPTION FOR SENIOR CITIZENS Reduces the total actual value of a 65 years of age property owner, who has lived in the same primary residence for 10 years, by 50% of the first $200,000 of actual value - $100,000 maximum benefit.

23 IMPORTANT NEW INFORMATION TO OUR SENIOR CITIZENS ABOUT REFERENDUM A! Referendum A funding will be included in the total state appropriations (Long Bill) legislation, and will be funded again for the 2017 tax roll year, payable in 2018 This is a $173+ M budget line item to be covered by the State each year, and growing. We encourage you to continue to apply for this benefit, regardless of the actions of the Legislature. We have the forms on our web site IMPORTANT NOTE: If the current General Assembly adopts the State budget before they adjourn on May 10 th, this backfill by the State to each special district will be placed at the top of future budget priorities..

24 2003 Amendment 23 K 12 EDUCATION FUNDING Requires the State to appropriate K 12 Education funding at the rate of inflation plus 1% for years through , and then at the rate of inflation each year thereafter. These increases in mandated revenue are exempt from the state spending limitations, (TABOR). Funds are required to be placed in the State Education Fund Which has never been fully funded! Interesting facts: Park County has 2 school districts South Park & Platte Canyon. South Park was exclusively funded by local property taxes until two years ago, while Platte Canyon gets 60% of their total funding from Denver

25 2006 Referendum F DISABLED VETERANS HOMESTEAD EXEMPTION Enables in our Constitution a similar process to reduce the total actual value of honorably discharged, 100% completely disabled resident veterans the same as the Senior Citizen discounts up to 50% of the first $200,000 in total actual value. Does not contain the 10 year residency requirement, as the Senior Homestead Exemption does. Has always been funded by the Legislature each year.

26 Appraisal Methods Sales Comparison Approach (Market Value) How are other similar properties selling? Influences in value are identified from the local real estate market buyers & sellers set prices! We determine typical (actual) value not the cost to build or construct. Income Approach to Value What can the property command in rent / income? Income stream is capitalized, (rate derived from the market), into a value estimate. Cost Approach to Value What is the reproduction or replacement cost of this building, as it exists today (including its accrued depreciation)? Bricks & sticks!

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28 Property Types Real Property Includes land & improvements (buildings) affixed to the land. Also called tangible Real Estate. Dirt, bricks, & sticks! Personal Property Property utilized in a commercial enterprise, to generate income to the business. AKA, Intangible property. Possessory Interests Exclusive use of government owned real property. A fee is paid to the owner, (Federal, State, & Local governments) along with a an additional property tax amount due, too.

29 Gallagher VS. TABOR Residential Rate Designed to float meet the 45% share All other property assessed at 29% Res rate now at 7.2% Ratchet down effect TABOR spending limit formula based on Denver Boulder CPI plus local growth factor (designed to be a low #) Requires most restrictive method be used, based on the prior years spending & revenue limits! No method for adapting to changing economic conditions!

30 Difference in Assessment Percentages! Residential property (Must be improved) Actual (market) value $100, assessment rate 7.2% = The assessed value: $7,200 Multiply * the total mill levy = The total property tax amount due Vacant land/commercial (Any non-residential) Actual (market) value $100,000 Fixed assessment rate 29% = The assessed value $29,000 Multiply * the total mill levy = The total property tax amount due

31 Residential Versus All Other? Assessed value $7,200 *Mill levy $ taxes All other property Assessed value $29,000 *Mill levy $2, taxes RES All Other 4.03 times difference in assessment rate!

32 Where is the value in Park County? Major property classes Residential Vacant land Commercial Public utilities Agricultural All other types % of Tax Roll RES LAND COM Public Utilities AG All Other

33 Where is the value in Colorado? Major property classes 40 Residential 35 Commercial Oil & Gas Vacant Land State Assessed PU AG All Other types *2014 Abstract Data % of Tax Roll RES COMM Oil & GAS Vacant ST ASSD AG ALL OTR

34 TAX REVENUE DISTRIBUTION ALLOCATION OF YOUR PROPERTY TAX DOLLAR Recipient Revenue Percent of Amount Total School Districts $10,501, Park County $7,443, Special Districts $6,539, Incorporated Towns $341,727 1

35 Projected 2016 Expenditures By Departments In General Fund SPNHA/Historic Pres/Tourism Emergency Management 2% 1% Recreation Development Library Public Health/WIC 0% 1% 2% Veteran Services 0% CSU Extension Services 1% 911 Communications 4% Information & Computer Services 4% PILT 7% District Attorney 2% Facilities 8% Broadband Operations 1% Community Organization Distributions 1% County Treasurer & Public Trustee 3% County Clerk & Recorder 5% County Assessor 6% County Sheriff 27% Administration 17% Development Services 8% County Surveyor 0% County Coroner 1%

36 Sources of Projected Revenue in Major Funds 2016 Proposed Budget GENERAL FUND Property Tax $7,300,000 Permits, Fees, Other Taxes $2,600,000 Jail Fees $1,100,000 PILT Funds $1,000,000 Fines $120,000 Other $720,000 PUBLIC WORKS HUTF $4,700,000 Property Tax $342,000 HUMAN SERVICES State & Federal Funding $4,000,000 Property Tax $285,000 SALES TAX TRUST FUND 1% Sales Tax (Land & Water $ 650,000 Numbers are rounded*

37 Expenditures of Larger Departments 2016 County Treasurer & Public Trustee 3% Other 18% County Clerk & Recorder 4% County Assessor 5% PILT 6% Transfer from Fund Balance 9% County Sheriff 25% Facilities 8% Administration 15% Development Services 7%

38 Where Are The Revenues Generated 2016? Development Services 4% PILT 7% Other 9% County Sheriff 11% County Treasurer 58% County Clerk & Recorder 11% Other represents revenues such as state and/or federal funding, lease/land rentals, and miscellaneous revenues or reimbursements.

39 9 News CALL LINE 9 5/4/2017

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41 Administrative Remedies Each year from generally May June 1, for Real Property (land & buildings) a property owner can appeal their value as determined by the County Assessor. Please refer to our Office web site, located at for appeal information and other administrative rights afforded our taxpayers, by state law.

42 (ETR) EFFECTIVE TAX RATE Ad Valorum means per cent of value We know that each property owner will pay the same per cent of their actual value as their neighbors do by tax area #. All non-residential (all other) pays a per cent 4.03 times greater than residential Multiply the rate of assessment times the total mill levy = the ETR amount

43 Value Changes 2017 Preliminary Totals PROPERTY TYPE PARK COUNTY GOVERNMENT 2016 FINAL ASSESSED VALUE 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $11,647,330 $11,888,320 $240, % COMMERCIAL $25,843,771 $29,767,066 $3,923, % INDUSTRIAL $790,760 $923,210 $132, % NATURAL RESOURCES $3,986,860 $4,556,920 $570, % PRODUCING MINES $112,410 $104,740 -$7, % RESIDENTIAL $218,818,700 $231,899,770 $13,081, % STATE ASSESSED $27,356,800 $27,356,800 $0 0.00% VACANT LAND $116,859,760 $124,606,030 $7,746, % PERSONAL PROPERTY $5,396,790 $6,535,320 $1,138, % TOTAL VALUES $410,813,181 $437,638,176 $26,824, %

44 Changes by School District RE-1 SCHOOL DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $1,418,280 $1,672,860 $254, % COMMERCIAL $8,802,126 $10,594,733 $1,792, % INDUSTRIAL $400,070 $507,700 $107, % NATURAL RESOURCES $15,590 $16,010 $ % RESIDENTIAL $88,408,740 $102,772,720 $14,363, % STATE ASSESSED $7,666,790 $7,666,790 $0 0.00% VACANT LAND $10,961,880 $12,130,700 $1,168, % PERSONAL PROPERTY $1,581,840 $1,949,510 $367, % TOTAL VALUES $119,255,316 $137,311,023 $18,055, % PROPERTY TYPE RE-2 SCHOOL DISTRICT 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $10,183,650 $10,215,460 $31, % COMMERCIAL $17,115,205 $19,172,333 $2,057, % INDUSTRIAL $390,690 $415,510 $24, % NATURAL RESOURCES $4,085,950 $4,645,650 $559, % RESIDENTIAL $130,410,170 $129,127,050 -$1,283, % STATE ASSESSED $19,690,010 $19,690,010 $0 0.00% VACANT LAND $105,869,750 $112,475,330 $6,605, % PERSONAL PROPERTY $3,812,680 $4,585,810 $773, % TOTAL VALUES $291,558,105 $300,327,153 $8,769, %

45 2 Towns Changes in Value PROPERTY TYPE TOWN OF ALMA 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT COMMERCIAL $1,363,540 $1,388,390 $24, % RESIDENTIAL $2,523,040 $2,469,620 -$53, % STATE ASSSESSSED $1,175,720 $1,175,720 $0 0.00% VACANT LAND $1,220,240 $1,024,480 -$195, % TOTAL VALUES $6,282,540 $6,058,210 -$224, % PROPERTY TYPE TOWN OF FAIRPLAY 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT COMMERCIAL $7,835,355 $8,981,733 $1,146, % INDUSTRIAL $98,970 $106,650 $7, % RESIDENTIAL $3,993,240 $4,027,170 $33, % STATE ASSSESSED $1,794,790 $1,794,790 $0 0.00% VACANT LAND $1,589,270 $1,604,220 $14, % TOTAL VALUES $15,311,625 $16,514,563 $1,202, %

46 Platte Canyon RE-1 SCHOOL DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $1,418,280 $1,672,860 $254, % COMMERCIAL $8,802,126 $10,594,733 $1,792, % INDUSTRIAL $400,070 $507,700 $107, % NATURAL RESOURCES $15,590 $16,010 $ % PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $88,408,740 $102,772,720 $14,363, % STATE ASSESSED $7,666,790 $7,666,790 $0 0.00% VACANT LAND $10,961,880 $12,130,700 $1,168, % PERSONAL PROPERTY $1,581,840 $1,949,510 $367, % TOTAL VALUES $119,255,316 $137,311,023 $18,055, %

47 Platte Canyon PLATTE CANYON FIRE DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $1,372,520 $1,625,970 $253, % COMMERCIAL $6,328,656 $7,493,063 $1,164, % INDUSTRIAL $300,240 $385,900 $85, % NATURAL RESOURCES $15,120 $15,540 $ % PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $74,258,920 $86,272,700 $12,013, % STATE ASSESSED $7,549,550 $7,549,550 $0 0.00% VACANT LAND $9,423,950 $10,085,760 $661, % PERSONAL PROPERTY $918,350 $970,630 $52, % TOTAL VALUES $100,167,306 $114,399,113 $14,231, % RESIDENTIAL = ALL OTHER = 1.88

48 Platte Canyon ELK CREEK FIRE DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $45,760 $46,890 $1, % COMMERCIAL $2,473,470 $3,101,670 $628, % INDUSTRIAL $99,830 $121,800 $21, % NATURAL RESOURCES $470 $470 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $14,149,820 $16,500,020 $2,350, % STATE ASSESSED $1,677,120 $1,677,120 $0 0.00% VACANT LAND $1,537,930 $2,044,940 $507, % PERSONAL PROPERTY $663,490 $978,880 $315, % TOTAL VALUES $20,647,890 $24,471,790 $3,823, % RESIDENTIAL = ALL OTHER = 1.68

49 Platte Canyon BAILEY WATER & SANT DISTRICT PROPERTY TYPE 2016 FINAL ASSESSED VALUE 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $0 $0 $0 0.00% COMMERCIAL/PERSONAL PROPERTY $1,973,120 $2,371,560 $398, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $0 $0 $0 0.00% RESIDENTIAL $884,980 $1,015,070 $130, % STATE ASSESSED $556,360 $556,360 $0 0.00% VACANT LAND $111,310 $169,070 $57, % PERSONAL PROPERTY $316,640 $288,940 -$27, % TOTAL VALUES $3,842,410 $4,401,000 $558, % RESIDENTIAL = ALL OTHER = 2.60

50 Platte Canyon HARRIS PARK METRO DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $280 $680 $ % COMMERCIAL $14,830 $24,830 $10, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $0 $0 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $4,025,410 $4,979,790 $954, % STATE ASSESSED $214,630 $214,630 $0 0.00% VACANT LAND $1,213,110 $1,127,440 -$85, % PERSONAL PROPERTY $3,110 $2,800 -$ % TOTAL VALUES $5,471,370 $6,350,170 $878, % RESIDENTIAL = ALL OTHER = 2.22

51 Platte Canyon CROW HILL WATER & SAN DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $0 $0 $0 0.00% COMMERCIAL $105,000 $118,240 $13, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $0 $0 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $560,250 $639,920 $79, % STATE ASSESSED $137,390 $137,390 $0 0.00% VACANT LAND $333,150 $342,940 $9, % PERSONAL PROPERTY $39,490 $40,320 $ % TOTAL VALUES $1,175,280 $1,278,810 $103, % RESIDENTIAL = ALL OTHER = 2.09

52 Platte Canyon WILL-O-WISP METRO DIST PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $0 $0 $0 0.00% COMMERCIAL $0 $0 $0 0.00% INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $0 $0 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $1,666,130 $2,125,480 $459, % STATE ASSESSED $498,990 $498,990 $0 0.00% VACANT LAND $606,840 $580,740 -$26, % PERSONAL PROPERTY $0 $0 $0 0.00% TOTAL VALUES $2,771,960 $3,205,210 $433, % RESIDENTIAL = ALL OTHER = 2.37

53 Indian Mountain RE-2 SCHOOL DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $10,229,050 $10,215,460 -$13, % COMMERCIAL $17,041,645 $19,172,333 $2,130, % INDUSTRIAL $390,690 $415,510 $24, % NATURAL RESOURCES $3,971,270 $4,540,910 $569, % PRODUCING MINES $112,410 $104,740 -$7, % RESIDENTIAL $130,409,960 $129,127,050 -$1,282, % STATE ASSESSED $19,690,010 $19,690,010 $0 0.00% VACANT LAND $105,897,880 $112,475,330 $6,577, % PERSONAL PROPERTY $3,814,950 $4,585,810 $770, % TOTAL VALUES $291,557,865 $300,327,153 $8,769, %

54 Indian Mountain JEFFERSON-COMO FIRE DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $3,052,580 $3,091,450 $38, % COMMERCIAL $1,414,290 $1,683,000 $268, % INDUSTRIAL $109,540 $121,420 $11, % NATURAL RESOURCES $513,990 $541,790 $27, % PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $30,605,080 $29,389,080 -$1,216, % STATE ASSESSED $3,939,010 $3,939,010 $0 0.00% VACANT LAND $23,088,740 $25,212,630 $2,123, % PERSONAL PROPERTY $184,020 $141,350 -$42, % TOTAL VALUES $62,907,250 $64,119,730 $1,212, % RESIDENTIAL = ALL OTHER = 1.71

55 Indian Mountain INDIAN MTN METRO DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $7,130 $7,740 $ % COMMERCIAL $0 $0 $0 0.00% INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $0 $0 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $10,856,900 $10,445,110 -$411, % STATE ASSESSED $587,250 $587,250 $0 0.00% VACANT LAND $7,880,210 $8,030,430 $150, % PERSONAL PROPERTY $51,520 $43,990 -$7, % TOTAL VALUES $19,383,010 $19,114,520 -$268, % RESIDENTIAL = ALL OTHER = 1.91

56 Hartsel Fire RE-2 SCHOOL DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $10,229,050 $10,215,460 -$13, % COMMERCIAL $17,041,645 $19,172,333 $2,130, % INDUSTRIAL $390,690 $415,510 $24, % NATURAL RESOURCES $3,971,270 $4,540,910 $569, % PRODUCING MINES $112,410 $104,740 -$7, % RESIDENTIAL $130,409,960 $129,127,050 -$1,282, % STATE ASSESSED $19,690,010 $19,690,010 $0 0.00% VACANT LAND $105,897,880 $112,475,330 $6,577, % PERSONAL PROPERTY $3,814,950 $4,585,810 $770, % TOTAL VALUES $291,557,865 $300,327,153 $8,769, %

57 Hartsel Fire HARTSEL FIRE PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $2,585,370 $2,623,720 $38, % COMMERCIAL $1,230,900 $1,456,790 $225, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $192,870 $192,870 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $15,943,170 $16,029,050 $85, % STATE ASSESSED $4,862,990 $4,862,990 $0 0.00% VACANT LAND $31,681,250 $35,015,820 $3,334, % PERSONAL PROPERTY $240,600 $480,800 $240, % TOTAL VALUES $56,737,150 $60,662,040 $3,924, % RESIDENTIAL = ALL OTHER = 1.64

58 Lake George RE-2 SCHOOL DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $10,229,050 $10,215,460 -$13, % COMMERCIAL $17,041,645 $19,172,333 $2,130, % INDUSTRIAL $390,690 $415,510 $24, % NATURAL RESOURCES $3,971,270 $4,540,910 $569, % PRODUCING MINES $112,410 $104,740 -$7, % RESIDENTIAL $130,409,960 $129,127,050 -$1,282, % STATE ASSESSED $19,690,010 $19,690,010 $0 0.00% VACANT LAND $105,897,880 $112,475,330 $6,577, % PERSONAL PROPERTY $3,814,950 $4,585,810 $770, % TOTAL VALUES $291,557,865 $300,327,153 $8,769, %

59 Lake George LAKE GEORGE FIRE DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $1,256,230 $1,177,920 -$78, % COMMERCIAL $3,103,300 $3,802,020 $698, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $125,330 $130,000 $4, % PRODUCING MINES $2,620 $1,540 -$1, % RESIDENTIAL $12,829,410 $13,081,200 $251, % STATE ASSESSED $2,907,910 $2,907,910 $0 0.00% VACANT LAND $5,408,420 $5,811,460 $403, % PERSONAL PROPERTY $524,000 $607,220 $83, % TOTAL VALUES $26,157,220 $27,519,270 $1,362, % RESIDENTIAL = ALL OTHER = 1.61

60 Lake George ECHO VALLEY PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $60 $70 $ % COMMERCIAL $28,580 $0 -$28, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $0 $0 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $377,200 $402,480 $25, % STATE ASSESSED $0 $0 $0 0.00% VACANT LAND $345,500 $416,130 $70, % PERSONAL PROPERTY $0 $0 $0 0.00% TOTAL VALUES $751,340 $818,680 $67, % RESIDENTIAL = ALL OTHER = 1.66

61 Lake George UTE PASS HEALTH DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $1,251,050 $1,172,550 -$78, % COMMERCIAL $3,007,590 $3,680,170 $672, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $125,330 $130,000 $4, % PRODUCING MINES $2,620 $1,540 -$1, % RESIDENTIAL $12,814,240 $13,066,060 $251, % STATE ASSESSED $3,258,530 $3,258,530 $0 0.00% VACANT LAND $5,408,420 $5,811,460 $403, % PERSONAL PROPERTY $524,000 $607,220 $83, % TOTAL VALUES $26,391,780 $27,727,530 $1,335, % RESIDENTIAL = ALL OTHER = 1.61

62 Guffey Charter School RE-2 SCHOOL DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $10,229,050 $10,215,460 -$13, % COMMERCIAL $17,041,645 $19,172,333 $2,130, % INDUSTRIAL $390,690 $415,510 $24, % NATURAL RESOURCES $3,971,270 $4,540,910 $569, % PRODUCING MINES $112,410 $104,740 -$7, % RESIDENTIAL $130,409,960 $129,127,050 -$1,282, % STATE ASSESSED $19,690,010 $19,690,010 $0 0.00% VACANT LAND $105,897,880 $112,475,330 $6,577, % PERSONAL PROPERTY $3,814,950 $4,585,810 $770, % TOTAL VALUES $291,557,865 $300,327,153 $8,769, %

63 Guffey Charter School SO PARK CNTY FIRE DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $1,901,560 $1,931,810 $30, % COMMERCIAL $291,840 $318,230 $26, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $29,600 $26,050 -$3, % PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $11,331,760 $11,681,990 $350, % STATE ASSESSED $1,836,850 $1,836,850 $0 0.00% VACANT LAND $7,199,840 $8,142,000 $942, % PERSONAL PROPERTY $62,700 $73,920 $11, % TOTAL VALUES $22,654,150 $24,010,850 $1,356, % RESIDENTIAL = ALL OTHER = 1.49

64 Fairplay RE-2 SCHOOL DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $10,229,050 $10,215,460 -$13, % COMMERCIAL $17,041,645 $19,172,333 $2,130, % INDUSTRIAL $390,690 $415,510 $24, % NATURAL RESOURCES $3,971,270 $4,540,910 $569, % PRODUCING MINES $112,410 $104,740 -$7, % RESIDENTIAL $130,409,960 $129,127,050 -$1,282, % STATE ASSESSED $19,690,010 $19,690,010 $0 0.00% VACANT LAND $105,897,880 $112,475,330 $6,577, % PERSONAL PROPERTY $3,814,950 $4,585,810 $770, % TOTAL VALUES $291,557,865 $300,327,153 $8,769, %

65 Fairplay SOUTH PARK AMBULANCE DISTRICT PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $6,694,560 $6,708,370 $13, % COMMERCIAL $13,618,185 $15,051,893 $1,433, % INDUSTRIAL $390,690 $415,510 $24, % NATURAL RESOURCES $3,683,820 $4,246,250 $562, % PRODUCING MINES $109,790 $103,200 -$6, % RESIDENTIAL $103,439,970 $101,471,630 -$1,968, % STATE ASSESSED $10,356,720 $10,356,720 $0 0.00% VACANT LAND $84,839,390 $89,359,240 $4,519, % PERSONAL PROPERTY $3,103,320 $3,617,490 $514, % TOTAL VALUES $226,236,445 $231,330,303 $5,093, %

66 Fairplay PROPERTY TYPE SOUTH PARK REC DISTRICT 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $1,020,620 $938,100 -$82, % COMMERCIAL $12,813,085 $14,238,113 $1,425, % INDUSTRIAL $390,690 $415,510 $24, % NATURAL RESOURCES $3,683,820 $4,246,250 $562, % PRODUCING MINES $109,790 $103,200 -$6, % RESIDENTIAL $94,223,530 $84,384,760 -$9,838, % STATE ASSESSED $10,707,420 $10,707,420 $0 0.00% VACANT LAND $77,276,880 $81,872,390 $4,595, % PERSONAL PROPERTY $3,076,250 $3,539,520 $463, % TOTAL VALUES $203,302,085 $200,445,263 -$2,856, %

67 Fairplay PROPERTY TYPE NORTHWEST FIRE DISTRICT 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $1,266,580 $1,216,620 -$49, % COMMERCIAL $10,972,995 $11,912,103 $939, % INDUSTRIAL $281,150 $294,090 $12, % NATURAL RESOURCES $2,977,170 $3,511,800 $534, % PRODUCING MINES $109,790 $103,200 -$6, % RESIDENTIAL $58,051,440 $57,220,930 -$830, % STATE ASSESSED $4,679,240 $4,679,240 $0 0.00% VACANT LAND $35,218,170 $34,652,930 -$565, % PERSONAL PROPERTY $2,773,510 $3,278,570 $505, % TOTAL VALUES $116,330,045 $116,869,483 $539, % RESIDENTIAL = ALL OTHER = 1.64

68 Fairplay TOWN OF ALMA PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $0 $0 $0 0.00% COMMERCIAL $1,291,440 $1,285,200 -$6, % INDUSTRIAL $0 $0 $0 0.00% NATURAL RESOURCES $0 $0 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $2,523,040 $2,469,620 -$53, % STATE ASSESSED $1,175,720 $1,175,720 $0 0.00% VACANT LAND $1,220,240 $1,024,480 -$195, % PERSONAL PROPERTY $72,100 $103,190 $31, % TOTAL VALUES $6,282,540 $6,058,210 -$224, % RESIDENTIAL = ALL OTHER = 2.18

69 Fairplay TOWN OF FAIRPLAY PROPERTY TYPE 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $3,900 $0 -$3, % COMMERCIAL $6,879,595 $7,768,963 $889, % INDUSTRIAL $98,970 $106,650 $7, % NATURAL RESOURCES $0 $0 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $3,993,240 $4,027,170 $33, % STATE ASSESSED $1,794,790 $1,794,790 $0 0.00% VACANT LAND $1,589,270 $1,604,220 $14, % PERSONAL PROPERTY $955,760 $1,212,770 $257, % TOTAL VALUES $15,315,525 $16,514,563 $1,199, % RESIDENTIAL = ALL OTHER = 2.19

70 Fairplay PROPERTY TYPE FAIRPLAY SANITATION DISTRICT 2016 FINAL 2017 PRE-APPEAL NET $$$ PERCENT AGRICULTURAL $3,900 $0 -$3, % COMMERCIAL $7,672,095 $8,628,123 $956, % INDUSTRIAL $98,970 $106,650 $7, % NATURAL RESOURCES $0 $0 $0 0.00% PRODUCING MINES $0 $0 $0 0.00% RESIDENTIAL $4,497,030 $4,521,860 $24, % STATE ASSESSED $2,073,320 $2,073,320 $0 0.00% VACANT LAND $1,880,510 $1,953,030 $72, % PERSONAL PROPERTY $1,030,330 $1,352,660 $322, % TOTAL VALUES $17,256,155 $18,635,643 $1,379, % RESIDENTIAL = ALL OTHER = 1.85

71 Performance Standards STATE BOARD OF EQUALIZATION (SBOE) Our standards are based on the International Association of Assessing Officers (IAAO) Standard on Ratio Studies, but are twice as rigorous. They have served the citizens of Colorado very well since In 1993, I chaired a committee of the Colorado Assessors Association which reviewed, and then adopted the current standards for appraisal level, as well as assessment uniformity. Our assessment level of value (LOV) must be between , and the Coefficient of Dispersion (COD), must be no greater than for Residential, and for Non-Residential properties. Requires additional equity and measurements / standards for other property types too. Inter and intra- county equalization is critically important to the distribution of over $6.23 billion in fiscal year K 12 education funding.

72 Appraisal Standards - USPAP Since 1990, all Appraisers employed by a County Assessor must obtain, and maintain a license from the Colorado Board of Real Estate Appraisers (BOREA), within 2 years of becoming a staff appraiser. Must become at a minimum a Registered Appraiser, or higher levels of Licensed, Certified Residential, or Certified General Appraisers. The County must provide, by law, for these credentials, (SB ), requiring our Office to demonstrate competency, experience, and verified formal appraisal education requirements, and we are USPAP (Uniform Standards of Professional Appraisal Practice) compliant. All of our staff appraisers are so qualified. I was a founding board member, and served the first 6 years on the BOREA, ( ), as the Assessor member, appointed by the Governor. Chairman from , It was an honor to help establish a uniform program, applied to all appraisers equally regardless of where they practice the art of appraisal.

73 Certification Of Values To Each Taxing District & Authority On August 25, each year, the Assessor is required by law to certify the total taxable values to each property tax supported entity. This includes both the actual and assessed values, and additional information provided by the County Treasurer. This is the basis for determining the mill levy to be set by each taxing authority. Our final certification is generally provided to each entity the week of Thanksgiving. By law, we don t need to certify until 12/10, but this is not timely to the entities to meet their 12/15 statutory deadline to the BOCC. We have done this as a courtesy for the past several years.

74 Budget Hearings & Public Notice Of The Budget Process Each year, every taxing authority is required to publish a notice of their budget calendar, always in the fall of the year. Watch the Flume for more details. They are usually in the Public Notice area of the paper. You have the opportunity to be present, and to voice your concerns and priorities to these local elected leaders. Become informed, and become active! This is truly where the rubber meets the road, and the individual mill levy rates are set. They really do matter to your property tax bottom line!

75 How Property Taxes Compare Town of Fairplay Tax Area # 2 $100,000 Total Actual Value Residential Assessed Value $7,200 * Total Mill Levy = $ Property Taxes Commercial Actual Value $29,000 * Total Mill Levy = $2, Property Taxes Fairplay Sanitation District Tax Area # 17 $100,000 Total Actual Value Residential Assessed Value $7,200 * Total Mill Levy = $ Property Taxes Commercial Actual Value $29,000 = $1, Property Taxes

76 How Property Taxes Compare Platte Canyon Fire District Tax Area # 5 $100,000 Total Actual Value Residential Assessed Value $7,200 * Total Mill Levy = $ Property Taxes Commercial Assessed Value $29,000 * Total Mill Levy = $1, Property Taxes Bailey Water & Sanitation Tax Area # 6 $100,000 Total Actual Value Residential Assessed Value $7,200 * Total Mill Levy = $ Property Taxes Commercial Assessed Value $29,000 *Total Mill Levy = $2, Property Taxes

77 Final Certification of Levies & Revenues By law, each taxing entity must certify to the BOCC by 12/15 their current tax roll year (next years) total mill levy and property tax revenue amounts. Any temporary one-year tax credits imposed, or any other factors are also certified at this time. The BOCC must accept these mill levy amounts to the tax roll, and has no authority to amend them. By law, they must complete their work no later than 12/22. The Assessor is then responsible to extend the total (aggregate) mill levies to the tax roll. The County Treasurer is then charged with the collection of the individual property taxes, in the next calendar year.

78 SOUTH PARK TAXES Entity Name: Tax Area # 2016 Levy $100, 000 Value Residential Taxes $100, 000 Value Commercial Taxes Town of Alma $ $ 2, Town of Fairplay $ $ 2, Jeff - Como Fire $ $ 1, Indian MT Metro $ $ 1, Hartsel Fire $ $ 1, Northwest Fire $ $ 1, So Park Co Fire $ $ 1, No Fire - So Park County $ $ 1,221.08

79 PLATTE CANYON AREA TAXES Entity Name: Tax Area # 2016 Levy $100, 000 Value Residential Taxes $100, 000 Value Commercial Taxes Platte Canyon Fire $ $ 1, Bailey Water & San $ $ 2, Harris Park Metro $ $ 2, Elk Creek Fire $ $ 1, Will O Wisp - PC Fire $ $ 2, Will O Wisp Metro $ $ 2,658.37

80 Annual Calendar 1 January Assessment date 15 April Personal property declarations mailed to taxpayers 1 May Notices of valuation sent changes in value 1 June Real property appeals end 15 June Personal property NOV s mailed 30 June Real Property Notices of Determination mailed 5 July Personal Property appeals end 10 July Personal Property NOD s mailed

81 Annual Calendar (Cont d) 1 August County Board of Equalization (CBOE) meets 25 August Preliminary abstract of assessment filed with the DPT & the Preliminary district certifications mailed 10 October State Board of Equalization reviews annual audit reports, and each county abstract of assessment 22 November Final certification of values mailed 15 December Entities report levy and budget data to board of county commissioners 22 December County Commissioners certify levies and revenues 1 January, start all over again!

82 Available Data - Services Main Office P.O. Box Main Street, Fairplay, CO We can be contacted by Telephone, , or Snail Mail Appeal line (Only during Appeal Season, May & June, OK?) Normal Business Line Office Web site: dwissel@parkco.us

83 Questions & Review: Was this presentation worth your time? What did you like? What didn t you like?

84 Thank you very much for spending your time with ME! Let s Adjourn and GO HOME!