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Assessor staff explains valuation method, cites Colorado statute
Summary
Assessor staff told the board the county used historical installed cost, replacement-cost new less depreciation, rollback and a 26% assessment rate, citing Colorado property-tax guidance; the assessor adjusted the account value and reported a modest tax difference after corrections.
Renee Nielsen, who identified herself as the Louisville County assessor for the record, noted an adjustment to the account valuation and introduced the assessor's staff presentation explaining how the county values business personal property.
Stacy Gould of the assessor's office said the office followed Division of Property Taxation guidance and used historical installed cost (back to 2017), calculated replacement-cost new, depreciated to the appropriate level, and then applied a rollback and the 26% assessment rate to reach the assessed value. "According to the division of property taxation, we are bound to use the Colorado revised statutes 39 dash 1 dash 1 0 3 13 a," Gould told the board, and she described correcting two line items where depreciation tables had been applied incorrectly.
Nielsen said the assessor's valuation was adjusted from $98,820 down to $95,990 on the valuation summary; assessor staff also noted an estimated tax difference of approximately $1,570.34 related to the correction. Gould said the office communicated the corrected valuation to the petitioner and provided the underlying methodology for review.
Board members questioned whether comparables should be used; County Attorney Rose Pugliese advised that comparables are generally used but that business personal property may be valued at fair market value, and that the assessor's historical information is relevant to the board's consideration.
