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By now you have received the notice of property value for your commercial proper…

By now you have received the notice of property value for your commercial properties. We are hearing from many Lyons commercial property owners that the appraised value of their property has increased significantly in recent years. Some as much as 50% in just one year!! The Boulder County Assessors office is currently receiving very little income based data from property owners which only leaves them comparable sales to assess property value. For anyone who owns a commercially zoned building that would like to protest their tax bill, you have until May 31st to do so. As we have suggested in the past, if it is appropriate you may want to show the county assessor copies of your leases which will allow them to potentially use the income approach based on rent. An income approach may result in a reduction of your assessment, and thereby your taxes. If you are in need of comparable sales to use, feel free to contact any of your favorite local real estate agents. We strongly encourage ALL Lyons commercial property owners to protest their valuation; property taxes will continue to increase unless we can provide more comprehensive data on the actual income of commercial properties in Lyons.

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