Summit County, CO Tax Information & Resources

2019 was a Reappraisal Year – Summit County, CO

Did you receive your Notice of Valuation in May? 

2019 was a reappraisal year. Notices of Valuation were sent on May 1, 2019. Colorado statute requires the Assessor to use data from a minimum period of 18 months prior to June 30, 2018 to determine 2019 and 2020 values. If that data is not sufficient, the Assessor may use additional data, in six month increments, from up to 60 months (5 years) prior to that appraisal date. For most property types in Summit County, the Assessor used 24 months for the 2019 reappraisal. The Assessor is specifically prohibited from considering data from after June 30, 2018.

The Summit County Assessor notified owners of changes to value via a summary Notice of Valuation (NOV) postcard. A long form Notice of Valuation and comparable residential properties can be viewed in the Notice of Valuation Archive.

The documents below explain current reappraisal analyses.

Summit County Property Value information


Want to better understand your Summit County, CO Tax Notice?

 

Personal Property Valuation & Rentals:

What you need to know about Summit County, CO personal property valuation! 

“Colorado Statute requires anyone who owns a business or rents out their furnished residential property on a short or long term basis to declare their business equipment or residential rental furnishings/equipment.”

If you’ve recently acquired a rental property, or have started renting your property did you know that you need to declare you business equipment or residential rental furnishings/equipment? This declaration needs to be into the county by April 15th for timely filing.

What is Taxable Property?

Taxable property includes, but is not limited to, the following:

  • Appliances
  • Artwork
  • Computers
  • Decorative Rugs
  • DVD, VCR, BluRay, 3D players
  • Equipment
  • Furniture
  • Hot tubs / spas
  • Machinery
  • Point of sale systems
  • Solar systems (installed on a commercial structure)
  • Telephone systems
  • Televisions

This includes all assets used in the business or the rental property whether acquired new, used or received as a gift or the result of a real estate or business sale. This information is required to be filed annually with the assessor.

What to do:

Shortly after the first of each calendar year our office will mail a Personal Property Declaration Form itemizing all the assets that were previously reported. If you are a new owner of a rental residence, a new owner of an existing business, or have opened a new business in Summit County, please contact our office and we will gladly send you the declaration form.

The statutory Personal Property Declaration form cannot be e-filed, but you may submit your information via email, as well as by mail or in person. A spreadsheet sent via email is our preferred method.

If not using the Personal Property Declaration Form, please provide the following information:

  • Asset description, year acquired, original installed cost new or cost used (per item), and quantity
  • Owner Name and Mailing Address
  • Physical location of the business or residential rental

Note: If you do not know the exact cost or year, you may provide your best estimate of what the item may have cost in a used furniture store or business supply outlet – a comparison to garage sale prices is not an accurate representation of true market value.

Submittal:

To file via regular mail (USPS delivery) you MUST use our post office box:
P.O. Box 276
Breckenridge, CO 80424-0276

To file in person or using an alternate shipping method:
208 E. Lincoln Ave.
Breckenridge, CO 80424

personalproperty@summitcountyco.gov

All information must be submitted by April 15th to insure timely filing and the avoidance of late fees. You will be notified of the assessor’s determination of value by June 15th.

Learn More from the County Here:
http://www.co.summit.co.us/391/Personal-Property-Valuation
http://www.summitcountyco.gov/569/Declaration-Form


It is always important to communicate with a tax professional, but if you have any questions about Summit County or need more resources feel free to contact me:

Skinner Team and KW