Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Taxes topic
No spam. Unsubscribe anytime.
Assessor recommends and commissioners approve $24,920.44 abatement for Vasquez Creek Inn after reclassification
Summary
The assessor told the board the Vasquez Creek Inn was used exclusively for employee housing as of Jan. 1, 2024; reclassification to residential reduced assessed taxes and resulted in a recommended abatement of $24,920.44, which the board approved and will forward to the state Department of Property Taxation for final sign‑off.
Grand County Assessor Larry Bannon presented an abatement request for Vasquez Creek Inn LLC (Trailhead Inn) after county staff verified the property's use as employee housing on Jan. 1, 2024. The assessor said the parcel had been classified as mixed use previously but that rents and documentation showed it was used exclusively for employee housing for the 2024 tax year.
Bannon explained the reclassification to residential value and that while the market valuation appeared higher, assessed valuation methodology resulted in a net abatement of taxes totaling $24,920.44 for 2024. "It resulted in an abatement of taxes of $24,920.44," the assessor said. Commissioners moved to approve the abatement and to execute required signatures; the abatement package will be submitted to the State Department of Property Taxation for final approval per statutory process.
The board also heard that the matter stems from a protest filed in 2023 and an earlier adjustment; staff confirmed the classification change will remain until use of the property changes.
