Most property assessment appeals are being denied in Denver area

If you challenged your property valuation increase, don't hold your breath for a tax break.

State of play: Colorado's county appraisers are sorting through a record number of appeals for property assessments ahead of the Aug. 15 deadline.

• The initial indications suggest many people won't win the appeal, typically because they presented insufficient information to warrant a downward adjustment.

By the numbers: Adams County has denied 77% of the appeals it reviewed so far. It is halfway through the 18,303 it received, according to figures the assessor's office provided to Axios Denver.

• Boulder is nearly finished with its 24,453 appeals and has rejected 74%, county assessor Cindy Braddock tells us.

What's happening: Statewide, property owners filed more than 308,000 protests — three times the average of the prior three assessment cycles, according to the Colorado Sun — after property values skyrocketed.

• The Denver assessor's office tells Axios it received 24,747 appeals, while Jefferson County saw about 28,300. Both are racing to finish reviews by the deadline, officials said.

The back story: Denver's median increase in residential property values is 33%, with multi-family housing spiking 45% and commercial property up 17%, assessors reported.

• Other metro area counties saw median house values jump 35% to 47% with some much higher.

What they're saying: Arapahoe County Assessor PK Kaiser tells Axios that misperceptions about the property assessments are commonplace in appeals, and may leave owners disappointed.

• For one, the recent cooling of the housing market won't affect 2023 rates, which are based on property values on June 30, 2022. Instead, it will apply to 2025 assessments, he says.

What's next: Property owners can appeal the denial to county boards of equalization if they aren't satisfied with the assessor's decision. From there, they can take the matter to court.