May Market Trends Report 2019

Here you’ll find the May 2019 Market Trends Report as listed by Denver Metro Association of Realtors. Here are the main highlights:

 

• Colorado homeowners can expect higher taxes driven by rising home values, and little relief from a constitutional provision designed to help; however, rising home and industrial property values will mean more money for school districts, local governments and special districts that rely on property tax dollars to fund public schools.
• Estimates for property tax rates could drop as low as 6.11 percent from 7.2 percent. The final study recommend that lawmakers set the rate closer to the current one at 7.15 percent.
• More than 1.1 million notices of property valuation were sent out across metro Denver. A majority of Denver County homeowners will see a lower increase, compared to the 26 percent increase in 2017.
• Adams and Arapahoe counties experienced the largest residential value increase at 24 and 22 percent, respectively. In Douglas and Jefferson counties, residential values are slated to go up 14.5 percent.  Broomfield saw the biggest jump (20.4 percent) in Jefferson County, followed by Westminster (17.2 percent) and Arvada (14.9 percent). Residential values are up 13 percent in Boulder County. Property owners have until June 1 to protest the valuation.

 

You can find the full report here