GC assessor gearing up for next year’s assessment | SkyHiNews.com

GC assessor gearing up for next year’s assessment

The Grand County assessor is having an easier year than last year, as it’s an off-year with no reassessment for real estate in Grand County.

Nevertheless, “Every year by statute we have to give the commissioners a report what is happening with valuations,” said Tom Weydert, county assessor.

During odd years, real estate in Grand County is reassessed to determine its taxable value, and next year is likely to see big changes, he said.

Values for 2012 will be the same for property owners. The only change is if resident had a vacant lot and built a house, he said, or if a homeowner renovated and put an addition on an existing home.

In 2013 evaluations will be based on real estate sales from January 2011 through June 2012.

“We will start looking at the real estate sales during those 18 months, and that is what we will base values on for 2013 and 2014,” he said.

The assessor will value every single property. Foreclosures can affect one area but what happens in Winter Park will not affect evaluations in Kremmling, he said.

The one area where valuations in Grand County are expected to change significantly this year, he said, was at the Henderson Mine.

The mine’s valuation is based on a complicated formula based on production and the value of molybdenite. Since the mine didn’t produce as much and the price declined, the mine valuation also declined.

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