Eagle County property values stable | AspenTimes.com

Eagle County property values stable

Aspen Times Staff Report
Aspen, CO Colorado

EL JEBEL ” Eagle County property owners can expect their assessed values to stay the same in 2008 after they soared in 2007, according to county assessor Mark Chapin.

“The only anticipated value changes in Eagle County for 2008 are due to property demolition, new construction, additions to existing improvements or the creation of new subdivisions and/or new condominium projects,” Chapin said in a prepared statement.

The assessor’s office mailed 3,937 notices earlier this year to property owners who would have different values based on those reasons. Anyone who didn’t receive a notice can expect their values to remain the same.

The stability is in contrast to last year. Property values in a 2007 reappraisal increased 38 percent on average in the Basalt and El Jebel portion of the county compared to the 2005 appraisal. The countywide increase in property values was 48 percent last year.

Chapin felt heat from angry property owners. About 5,800 property owners filed appeals asking for a reconsideration of their values. High property values usually translate into higher property tax bills.

Chapin said last year that he shouldn’t be blamed for the drastic increases in values. A reappraisal is required by the state every two years. This year, 2008, isn’t a reappraisal year.

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Property owners with a question about their 2008 property values can call the assessor’s office staff in Eagle at 970-328-8640 or go online to http://www.eaglecounty.us for property information.