Yes.
Colorado residential property values jumped 26.9% statewide in 2023, with many counties reporting much higher surges.
Under Colorado law, properties in the state must be revalued every two years. The most recent revaluation occurred between Jan. 1, 2021, and June 30, 2022.
In that time, Douglas County reported a median residential valuation rise of 47%. Arapahoe County reported a 42% jump. The city and county of Broomfield saw a 41%. Larimer County’s values surged 40%. Adams County reported a jump of 38%. Jefferson County’s values soared 36.5%. Boulder County experienced a 35% rise.
The repeal of the Gallagher Amendment in 2020 was partly to blame for the double-digit increase in valuations seen across the Metro Denver area. The amendment limited how much property assessments — and therefore property taxes — could rise. The repeal was driven by state and local governments struggling with huge deficits that originated during the pandemic.
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