Broomfield Property Assessments Up By 18.3%: Assessor

BROOMFIELD, CO – Broomfield's residential property values increased by 18.3 percent in Broomfield County's most recent revaluation, a statement from the Broomfield County Assessor said.

Around May 1, the county sent bi-annual assessment notices to around 20,000 residential property owners and 700 commercial properties. Every two years, as required by state law, the county assessor re-evaluates the value of real estate.

Those values will be in effect for tax year 2019 (payable in 2020) and tax year 2020 (payable in 2021).

Realtor.com says the median list price of a home in Broomfield is 420, 000.

The residential assessment rate in Broomfield is 7.20 percent. Assessed at 7.20 percent, the assessed value for a median home would be $30,240. If the total mill levy was 100 mills, a home's residential taxes would be $3,024. The mill rate may be higher or lower depending on where you live and to which government bodies you pay taxes.

In Broomfield, residential properties increased in value between 10-30 percent over the past two years, the assessor's report to the city council said.

Appraisers divide the town into the areas north and south of 136th Avenue.

South of 136th, the average single-family home value increased from $352,135 to $413,111, or 17.3 percent, the report said. The largest percentage of increases were seen in Westlake Village, Colemans Lakeview, Lac Amora, Greenway Park and Foxborough Townhomes. Home valuations in those neighborhoods are increasing more than 24 percent, while remaining neighborhoods saw increases of 15 - 20 percent, the assessor said.

Condos south of 136th Avenue increased in value on average from $262,041 to $294,234, or 12.3 percent in unit price. The highest increases were in the County Club Village Condos, which will increase more than 25 percent.

North of 136th, the average single family home price increased from $569,392 to $610,591, or 5.7 percent. Houses in Green Farm Estates and Wilcox saw the largest increases (more than 20 percent). The remaining areas saw "moderate" increases of 5 - 13 percent.

North of 136th, the average condo unit value increased from $305,865 to $335,848, or 9.8 percent.

Out of 18 condo developments in Broomfield, four will have increases more than 20 percent and six will increase less than 10 percent, the report said.

The office is also are monitoring neighborhoods near "current oil and gas development" to see if there are any different property value trends. So far, the office has not seen any difference in days on the market, median sales price or sale-to-list ratio, the report said.

You can find out more at the Broomfield County Assessor's website.