Telluride Real Estate News: Down Low on Property Taxes

14 Feb Telluride Real Estate News: Down Low on Property Taxes

Telluride Real Estate News twins with Robert Stenhammer, an associate broker with Telluride Real Estate Corp./Christie’s International Real Estate.

With a BA in business, an MBA in hospitality and tourism, and over 20 years of experience in the fields, Robert’s expertise encompasses real estate, hotels, vacation rentals, resort management, community relations, government affairs, and destination marketing. In his past life working on Hilton Head Island, South Carolina, Robert wrote often on those subjects for local media. In addition to his  real estate position, he also works part-time for the Telluride Ski & Golf Resort, where his title is “Office of the CEO” and his focus is on government affairs and community relations, a role which comes down to helping make Telluride the #1 resort in the world.

In his weekly column, (narratives and video), “Telluride Real Estate News,” Robert leverages his extensive knowledge of market factors (global, national, and regional) and the Telluride lifestyle to bring readers fresh, informative – and insider – real estate news to use today.

This week, Robert focuses on your real estate property taxes, the variables involved in the calculation, the importance of 2017 as a re-assessment-of-value year, and ways to appeal your valuation. 

Read on for more. And don’t miss Robert’s video for a recap of important details that could save you money.

Contact Robert for additional information on San Miguel property taxes or how to appeal, 970-708-7771.

In San Miguel County, the Assessor’s Office is responsible for valuing all real and personal property including residential properties, commercial properties, and agricultural land. These valuations ensure that each taxpayer is assessed the appropriate amount of taxes according the mill levy that is applicable to the property location. Interestingly enough, the County Assessor is an elected position. Peggy Kanter was elected as San Miguel County Assessor in 1978 and is next up for election in 2018.

Your property taxes are calculated using two variables: the assessment rate and the mill levy. In San Miguel County, there are 25 different mill levy taxable areas. The assessment rate is set by the state and, for 2016, the assessment rate was 8.24%. The mill levy is the tax rate applied to your assessed value. One mill is equal to $1 for every $1,000 of assessed property value. Property valuations are updated every two years and 2017 is a reassessment year, therefore all property owners will receive a notice of valuation that will be mailed out on May 1.

The month of May is every taxpayer’s opportunity to protest their parcel’s valuation and/or classification.

For tax years 2017 and 2018, Colorado County Assessors are required by law to reappraise all real property to reflect a June 30, 2016 level of value. That level of value represents aa “snapshot” of property values during an 18-month period from January 1, 2015 through June 30, 2016.

With that appraisal in hand, for the 30-day period between May 1, 2017 and June 1, 2017, owners of real property may protest the value or the classification established by the assessor.

Specifically, the protest period affords taxpayers an opportunity to inform the assessor of errors in classification, property description, or other discrepancies that may result in a reduction in value or a change in classification. The protests are usually predicated on a market analysis of similar properties that have sold in the aforementioned 18-month period.

The assessor must make a decision with regard to your protest and mail you a Notice of Determination by the last regular working day in June. If you are satisfied with the assessor’s determination, the tax bill you receive the next January will be based on the value and classification reflected on the Notice of Determination.

Robert Stenhammer

More info and help with property taxes here:

More about Robert Stenhammer:

Daughters Sammy (18), Mackenna (16), Robert and Wife Heidi.

Originally from Minnesota, Robert has enjoyed a 20+-year career in luxury resort, real estate, hospitality, and tourism. He has been a licensed real estate broker since 2009.

Robert began his resort management career in the ski resorts of Colorado, where he directly oversaw the management of over 2,600 vacation rental properties, 40 homeowner associations, retail, food and beverage, real estate, hotels and resort operations during his stints with Vail Resorts and Intrawest.

He lived in Hilton Head Island, South Carolina for seven years, serving on the Board of Directors for the Hilton Head Island/Bluffton Chamber of Commerce & VCB. He chaired the Accommodation Tax Committee for the Town of Hilton Head Island, got his brokerage license and was a regular hospitality, tourism, and real estate columnist and contributor for the Island Packet newspaper and Hilton Head Monthly magazine.

In his former duties as executive vice-president for Telluride Ski & Golf Resort, Robert Stenhammer was responsible for hotel and vacation rental resort lodging, Mountain Village retail operations, golf course operations, the Telluride Conference Center, Telluride Concierge Luxury Transport and the exclusive Telluride Ski and Golf private members club.

Daughter Sammy (18), Robert, Daughter Mackenna (16) and wife Heidi.

In his new job for Telski, Office of the CEO (Bill Jensen), Robert is charged with helping to make Telluride the #1 resort in the world by working in government affairs and on strategic partnerships and new initiatives for the resort, including housing, access, and sustainable development for a better future.

As a broker, Robert  leverages his intimate knowledge of the market and executive-level communication skills and service experience to exceed his clients’ real estate objectives.

Off-hours, Robert takes advantage of the active Telluride lifestyle His home is in Mountain Village, where he lives with his wife Heidi and daughters Samantha (18) and Mackenna (16).