Colorado law mandates a two-year reassessment cycle for all real property, meaning that county assessors across the state re-evaluate property values every odd-numbered year. This statutory requirement ensures assessments reflect current market conditions and maintains equitable taxation. In 2025, counties statewide—including Gunnison County—enter a reappraisal year, marking the start of a new cycle. Property owners should note that the valuation established in 2025 will remain the same for the 2026 tax year.
In Gunnison County, this reassessment process plays a vital role in distributing the property tax burden fairly among residents and property owners. The county assessor’s office analyzes market sales and economic data from an established timeframe known as the “data collection period” to determine property values.
Assessment Process:
The County Assessor is responsible for identifying, classifying, and valuing all property in accordance with Colorado state laws. These laws provide detailed guidance on how and when property must be assessed:
Reappraisal Cycle: Real property must be reappraised every odd-numbered year. In even-numbered years, the property value remains the same as the prior year unless changes—such as new construction—have occurred.
Valuation Date: Property values are determined based on their market value as of June 30th of the year preceding the reappraisal year.
Residential Valuation Method: Residential properties must be valued using the market approach, which relies on an analysis of comparable sales to estimate what properties would have sold for on the appraisal date.
Fresh Valuation Each Cycle: With each reappraisal, previous valuations are disregarded, and a new analysis begins using an updated list of sales. Values are not adjusted by a general percentage; instead, they are recalculated based on sales data from a specific study period defined by state statute. Market activity occurring after the appraisal date cannot be considered.
Sales Data for 2025–2026 Tax Years: For the 2025 and 2026 tax years, the Assessor is required to use sales occurring between January 1, 2023, and June 30, 2024. Additional sales data from up to five years prior to June 30, 2024, may also be analyzed, added in six-month increments. Gunnison County typically includes a minimum of 24 months of sales data following the previous reappraisal to account for seasonal market trends.
Information Collection
The assessment process begins with collecting detailed information about each property, including ownership, location, use and sales history.
A property’s value can change over time due to physical modifications—such as finishing a basement or completing major renovations. Routine maintenance, such as painting, roof replacement, or general repairs, typically does not increase property value, but neglecting these tasks may lead to deterioration that could reduce the property’s market worth.
The goal of this process is not to increase revenue arbitrarily but to ensure fairness based on actual market activity. In fast-growing or high-demand areas like Gunnison County, property values can change significantly over a two-year span. Property owners should be prepared for potential valuation increases and understand how those changes might impact their tax bills.
Gunnison County provides resources for property owners to review their assessments and appeal them if they believe the valuation is inaccurate. Notices of Valuation will be mailed in May 2025, and there will be a limited window to file an appeal. Staying informed about the reassessment cycle and understanding how property values are determined can empower residents to better manage their financial planning and ensure transparency in the taxation process.
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