Skip to Content

Nearly all El Paso County homes see property value increase

Courtesy of MGN Online

EL PASO COUNTY, Colo. (KRDO) -- While it might be difficult for people looking to buy a home, it's a great time to be a homeowner in El Paso County.

According to the El Paso County Assessor's Office, 98 percent of single-family residences increased in value between July of 2018 and June of 2020.

The Assessor's Office looked over 40,000 actual sales, as well as the cost and income for vacant land and commercial properties, to complete the 2021 reappraisal.

County Assessor Steve Schleiker said, "the overall ‘average’ county-wide value increase is 15 percent to 20 percent, whereas it was 20 percent to 25 percent in 2019." But homes in Southeast El Paso County saw increases above 30 percent. “We have not seen this type of market in quite some time in El Paso County," Schleiker says. "In fact, I don’t think I’ve ever seen it this high.”

The reason why that area is seeing a larger increase Schleiker says is for a few reasons. There is more affordable housing in that area where buyers are willing to spend above asking price to get the home. Also, that area of the County was hit the hardest during the 2008 recession. Schleiker saying a lot of homes in that area were foreclosed on and are now making a come back.

However, Schleiker did warn that with this overall increase in property value, there will likely be a property tax increase imposed for the county.

Additionally, the Assessor's Office created an updated 2021 reappraisal, single-family residential, neighborhood value increase map.

El Paso County Assessor

On Friday, the El Paso County Assessor's Office will mail more than 260,000 Real Property Valuation Notices. All owners of property, with the exception of government-exempt parcels, will receive a notice. If you have any questions, you are encouraged to call the County Assessor's Office.

Click here to see a property's new value.

Chase Golightly

Chase is a reporter and an anchor for our weekend evening newscasts. Learn more about Chase here.

Comments

1 Comment

  1. Makes perfect sense. Every time the peasants don’t approve a tax increase they just raise our property values. That way they get they tax increase without the needing our approval .

Comments are closed.

Skip to content