Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Taxation topic
No spam. Unsubscribe anytime.
Assessor presents annual valuation: Grand County real property value reported at $19.05 billion
Summary
Grand County Assessor presented statutorily required annual valuation reports showing total real property actual value of approximately $19.054 billion and discussed protests, appeals and the effect of recent state valuation changes.
Grand County Assessor Larry Banman presented the assessor's annual valuation report Tuesday, showing total real property actual value of $19,054,144,940. Banman explained the county's bifurcated assessment rates: school-assessed taxable value uses a 7.05% rate while other taxing entities use a 6.25% assessment ratio.
Banman said the figures can still change because of appeals pending before the County Board of Equalization (CBOE) and referee hearings; final certification occurs in December. He told commissioners the office handled approximately 1,326 appeals this year, down substantially from prior peak years. He also noted that certain statewide residential and commercial valuation reductions that applied in prior years (for tax years 2023 and 2024) expired for 2025; new legislation will create a different residential reduction next year.
Commissioners asked about the possible budget impact of appeals and valuation changes and requested staff convene internally to model projections for budgeting. The assessor's office said typical adjustments from CBOE/referee processes often maintain many assessor-level values and that the office uses stipulations where parties agree on value where appropriate.
Banman and Deputy Assessor Deb Lynn Bloom reviewed other report elements, including personal property handling for declarations not returned and the classification methodology for agricultural valuation (soil-based classification with state-determined values and cap rates). The presentation was informational and required no BOCC action.
