logo
Error with device mobile widget id ads_slot-8
Error with device mobile widget id ads_slot-8
  • News
  • Retail
  • Opinion
  • Movers & Shakers
  • Business
  • Real Estate
  • Community
  • Entertainment
  • Food & Beverage
  • Archives
  • Free Subscription
    • News
    • Retail
    • Opinion
    • Movers & Shakers
    • Business
    • Real Estate
    • Community
    • Entertainment
    • Food & Beverage
    • Archives
    • Free Subscription
Error with device mobile widget id ads_slot-6
Error with device mobile widget id ads_slot-6
Property valuations could mean tax increases for homeowners; Polis plan offers relief
Brad Hughes, Montrose County Tax Assessor/Collector Montrose County
News, Real Estate
Justin Tubbs Montrose Business Times on
May 10, 2023
Property valuations could mean tax increases for homeowners; Polis plan offers relief

With huge leaps in property value assessments across the state, there’s some question about property taxes and where homeowners might find some relief.

In Montrose County, the median increase in residential property’ values was 47% when the Montrose County Tax Assessor’s Office released its new assessments last week.

‘‘Where some houses were valued at $300,000 in 2021, they were valued at $400,000 in 2022,” said Brad Huges, the Montrose County Tax Assessor and Collector. ‘But from June 2022 to now, the data is fairly flat.”

The increase was caused by a few factors, Hughes told the Montrose Business Times. During and after the major waves of the coronavirus pandemic, there were large migrations of people from larger cities to more rural areas like Montrose County. They could move because of the low interest rates at the time.

Homes for those migrating were built or bought, then construction prices and building material costs shot up, causing home values to increase significandy, ‘Values were increasing about 2% per month during the reappraisal period,” Hughes said.

Montrose County wasn’t the only to see a big increase.

Homes in Gunnison County saw a 53% increase, Delta County saw a 45% increase, Ouray County saw a 66% increase, and San Miguel County saw an increase of 58%.

The same happened on the Front Range, with increases of 33-47% in many major counties.

All this spells what could be a sharp increase also in property taxes, if there’s not some relief.

‘It all depends on the mill levies,” Hughes said. The largest taxing entities in Montrose County are the county and the Montrose County School District, which combined collect about 60% of all property taxes.

Governor Jared Polis, in response to the news from county tax assessors across the state, announced a plan to provide relief for property owners.

He introduced a bill, with roughly a week left in the legislative session, that would reduce projected property tax increases by 60% for homeowners.

If passed in the legislature, it would go to Colorado voters in November.

‘It is no secret that Colorado is a great place to live and work, and as our state grows, we must Lake action to ensure people can thrive in the community they love. This proposal will cut the average homeowners’ tax increase in half and deliver long-term relief to protect people, especially seniors on a fixed income, from being priced out of their homes,” said Polis in a released statement. ‘I appreciate the legislature’s partnership to provide real relief on property taxes and save Coloradans money.”

The governor’s bill has other WTitten in proposed protections and means of tax relief.

Other property tax relief and protections proposed in this plan include: Reducing the residential assessment rate from 7.15% to 6.7% in 2023 and 2024, and continuing this reduction for primary residences (not second homes or investment properties) in future years.

Reducing the taxable value of residences by $40,000 in 2023 and 2024, and continuing this reduction for primary residences (not second homes or investment properties) in future years.

Capping the growth in district property tax collections excluding school districts at inflation and allowing local governments to override the cap after giving notice to property owners.

Protecting funding for public education and backfill revenue to fire districts, water districts, ambulance and hospital districts in areas of the state that aren’t growing as fast by dedicating a portion of the state TABOR surplus to backfill.

Providing seniors who currently receive the Homestead Exemption a larger reduction of $140,000 and allowing them to continue to receive this reduction if they move.

Not everyone is a proponent of the plan, however.

Those opposed to the bill argue that it’s not a tax cut when Polis’ plan is to use money normally refunded to Coloradans because of the taxpayer bill of rights (TABOR) to instead fund property tax cuts — basically, funding the property tax cuts with a hike on income taxes.

The bill was proposed on May 2, and as of press time Friday, it had not yet passed legislature.

Justin Tubbs is Montrose Business Times editor. You can reach him by email at justin@montrosebusinesstimes.com or by phone at 970-765-0915 or 254-246-2260.

Related Posts
Error with device mobile widget id ads_slot-4
Error with device mobile widget id ads_slot-4
Error with device mobile widget id ads_slot-2
Error with device mobile widget id ads_slot-2
Error with device mobile widget id ads_slot-7
Error with device mobile widget id ads_slot-7
MOST READ
South Rim Fire Grows to Nearly 3,000 Acres; Bostwick Park community issued evacuation notice out of ‘abundance of caution’
News
South Rim Fire Grows to Nearly 3,000 Acres; Bostwick Park community issued evacuation notice out of ‘abundance of caution’
By Justin Tubbs | MBT 
July 12, 2025
The wildfire burning along the south rim of Black Canyon of the Gunnison National Park has grown to 2,896 acres as of Friday morning, with no containm...
this is a test
More than 1,640 acres have burned as fire at Black Canyon of the Gunnison National Park is 0% contained
News
More than 1,640 acres have burned as fire at Black Canyon of the Gunnison National Park is 0% contained
By Justin Tubbs | MBT 
July 11, 2025
A wildfire sparked by lightning Thursday morning has forced the full closure of Black Canyon of the Gunnison National Park, burning more than 1,600 ac...
this is a test
Les Schwab Tires aims for July soft opening in Montrose
Business, News
Les Schwab Tires aims for July soft opening in Montrose
By Justin Tubbs Montrose Business Times 
July 10, 2025
Les Schwab Tire Centers will open a new, full-service store in Montrose on July 23, bringing more than a dozen jobs and a range of automotive services...
this is a test
Montrose County board moves forward without county manager after resignation, split over finalist
News
Montrose County board moves forward without county manager after resignation, split over finalist
By Justin Tubbs | MBT 
July 9, 2025
Montrose County’s top administrative position remains vacant after interim county manager Leslie Quon resigned Monday, prompting two days of public di...
this is a test
Recall effort launched against Montrose County Commissioner Scott Mijares, who pushed for fmr. county manager’s resignation
News
Recall effort launched against Montrose County Commissioner Scott Mijares, who pushed for fmr. county manager’s resignation
By Justin Tubbs Montrose Business Times 
July 7, 2025
A citizen-led effort to recall Montrose County Commissioner Scott Mijares is set to begin next week, with more than 100 volunteers preparing to gather...
this is a test

Subscribe for Free to the interactive E-edition. Each Wednesday.

subscribe
logo

The Montrose Business Times has established itself as the premier source for local business news, community updates, events, and trends in Montrose, Colorado, and its surrounding areas. Our mission is to inform and support the growth of our residents, businesses, business leaders, and entrepreneurs within our community—a commitment we hold with great sincerity. Our vision transcends the act of sharing success stories; we strive to create them. We believe in the transformative power of storytelling—how sharing experiences, insights, and personal journeys can ignite inspiration and drive meaningful change within our community. At the heart of our endeavor lies growth and impact. We are devoted to engaging with the community at large, ensuring that everyone has access to the remarkable stories and insights we present. Our offerings encompass digital news content, a weekly digital newspaper, and a variety of events—all designed to honor and celebrate the best that Montrose has to offer. We invite you to join us on this journey as we illuminate the narratives that shape our vibrant city. Professional Memberships: National Newspaper Association, Colorado Press Association, Colorado News Collaborative, LION Publishers, Montrose Economic Development Corporation, and the Greater Montrose Chamber of Commerce  

INFO

  • About Us
  • Advertising
  • Contact Us
  • Become a member
  • About Us
  • Advertising
  • Contact Us
  • Become a member

CONTACT INFO

montrosebusinesstimes.com

Montrose Business Times

501 E. Main Street

Montrose CO 81401

9707650915

submissions@montrosebusinesstimes.com

Got a story tip? Drop us a note at submissions@montrosebusinesstimes.com