An aerial view shows homes in Fort Collins, Colorado. County assessors in the state are warning of enormous rises in property taxes in the coming months.
During a press conference on Wednesday, Douglas County Assessor Toby Damisch spoke about the dramatic rise in property taxes in several Colorado counties."This is very, very serious. If the state legislators don't act on this, it will be a crisis," he said. Similarly, Keith Erffmeyer, the assessor in Denver County, said,"We've never seen...something this historic or unprecedented," according toDouglas County Treasurer Dave Gill recently told homeowners to expect a rise in property taxes ranging from 40 to 50 percent, according to The Colorado Sun, an online news outlet."It is prudent to be prepared," he told homeowners in the county.
Earlier this year, New York City saw a rise in property taxes due to a rise in the market value of single-family homes. "Citywide taxable billable assessed value, the portion of market value to which tax rates are applied, increased by 4.4 percent to $286.8 billion," the New York City Department of Finance said in a press release in January.