NOV for Intervening Year

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Senate Bill 22-238 requires the Property Tax Administrator to calculate and report the ratio of valuation for assessment of residential property, except multi-family, to the general assembly for property tax year 2024, on or before March 21, 2024. 

Section 39-5-121(1), C.R.S., includes a requirement for the appropriate ratio of valuation for assessment based on the classification of the taxable property to be on the Notice of Valuation. Many counties use the language in section 39-5-121(1.2), C.R.S., that allows a Notice of Valuation to be included with the tax bill to fulfill the requirements of subsection 1. 

The 2024 residential assessment rate, except multi-family, will not be determined when tax bills for property tax year 2023 are processed. Based on the above referenced statutory requirements, a Notice of Valuation is required for all residential properties, except multi-family, no later than May 1, 2024.

If you have any questions regarding the statutory language, please contact Lori DeCrow at or (970) 248-7308.