A for sale sign posted in front of a home in Basalt on Thursday, April 29, 2021. All property owners will receive their new notice of valuation next week. (Kelsey Brunner/The Aspen Times)
Property owners in the Roaring Fork Valley can expect to learn from their county governments next week that their values went up significantly, but maybe not as much as they thought.
Colorado requires county assessors to reappraise property every two years in the odd-numbered years. For this year’s reappraisal, the new amounts will reflect the property value as of June 30, 2020.
That’s significant because the residential real estate market in mountain resort areas such as Aspen and Vail went nuts starting right about that time. Urban residents fled to the mountains to escape the COVID-19 pandemic and social unrest, and they snatched up mountain property. That resulted in record sales dollar volume in Pitkin County.