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Assessor reports 2025 valuations; oil and gas assessed value drops about 48%
Summary
The Broomfield assessor presented preliminary 2025 assessment totals: total taxable value fell about 7% since Dec. 31, 2024, driven in large part by a near-48% decrease in assessed oil-and-gas value. Council authorized the mayor to sign the 2025 abstract of assessment.
City Assessor Jay Yamashita reported to council July 8 on the status of 2025 property valuations and recommended a resolution authorizing the mayor to sign the 2025 abstract of assessment after hearings conclude.
Yamashita said the assessor’s office follows state timelines for appeals and reporting; hearing officer recommendations are due to council no later than Aug. 5 and the abstract must be delivered to the state by Aug. 25. Because of the tight timeline between hearings and the state certification deadline, staff requested that council authorize the mayor to sign the finalized abstract after staff completes the post-hearing edits.
Yamashita presented assessed-value comparisons (assessor-level adjustments after appeals through June 30): real property assessed value decreased roughly $38.7 million (about 2%); personal property assessed value declined about $10.5 million (about 6%); state-assessed property decreased about $2.3 million (about 3%); and oil-and-gas assessed value dropped about $142.3 million — a 48% decline from the Dec. 31, 2024 value. Total taxable value listed was $2,425,230,480 as of June 30, 2025, a roughly 7% decline from the prior-year total taxable amount reported on Dec. 31, 2024.
Council adopted Resolution No. 2025-98-BOE authorizing the mayor to review and sign the 2025 abstract of assessment on completion; the motion passed unanimously. Yamashita noted these preliminary figures are subject to change before the abstract is finalized and cautioned they are not intended for budget purposes. He also explained the assessor’s process for estimating values for non-filers of personal property declarations and noted there were 82 personal-property non-filers as of the April 15 filing deadline.
Council members asked clarifying questions about the oil-and-gas drop, the mechanics of assessed rates and the effect of legislative changes to assessment rates; staff said the decrease reflects production changes, equipment classification, and market factors affecting valuations.
