Mary Douglas, REALTOR ®, Red Feather Lakes, Colorado

When Colorado homeowners get that property tax valuation in the mail, they might expect that their taxes will be lower. We all know, or have heard that housing values have been falling!

Wouldn't our tax bill fall too?

That won't happen, and this is why: In Colorado, this year's valuations are based on values beginning in 2006, when home prices were going up and we didn't have the amount of foreclosures as we do now.

This is the law that governs the way property is assessed.

In Colorado, State law required values are based on two years of neighborhood property sales. For this year, that is the two years ending in June 2008!

When the "Notice of Valuations" are sent out in May, many of us might be disappointed, because according to the County Assessor, property values haven't changed as much as we probably thought! County Assessors may be faced with many unhappy and angry homeowners, calling on the phone, and stomping up the courthouse steps!

Have some neighborhoods experienced a down turn in values since that time? Yes! however, the Assessors are bound by law, and are not able to change the valuation.

I regret to say ~ Colorado, we will not see very much change in our property tax valuations ------------ this year.

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This is an old joke, but I thought I'd pass it on - maybe it will cheer you up!

Your house, as seen by yourself

Your house, as seen by your buyer

Your house, As seen by your lender

Your house, as seen by your appraiser

Your house, as seen by the Tax Assessor

(remember,this year, it's not their fault - It's the law!)

Authored by Mary Douglas, Broker Associate, United Country Ponderosa Realty, Red Feather Lakes, CO,

The information contained in Mary's blog is deemed reliable but is not guaranteed, and the opinions and views expressed in these articles are solely those of the author.

"Find your Freedom"- a day in the mountains will always soothe your city soul! 1-800-531-2195

This information is directly from the Colorado Department of the Treasury, http://www.colorado.gov/cs/Satellite/Treasury/TR/1190277266190

Seniors & Active Military who are called into service on January 1 may be eligible for a deferral of your Colorado property taxes, now.

You must contact the county Treasurer this year between January 1 and April 1 to have your current tax bill deferred.

Seniors & Disabled Veterans may also be eligible for a tax exemption.

You must apply for the exemption this year to decrease your Real Estate Taxes for 2009, which are payable in 2010.

Here is the complete information from the Department:

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Senior Property Tax Deferral Program

The Senior Property Tax Deferral helps senior citizens, many of whom live on a fixed income, continue to afford to live in their own home. The program loans senior citizens, 65-years of age or older, or persons called into military service on January 1 of the year in which the claim is filed, funds to pay their property taxes.

The State Treasury makes tax payments directly to the county on behalf of the participant for the entire amount due that year. The loan is logged as a lien against the participant's property that does not have to be remitted until the property sells or the mortgage changes hands. In Fiscal Year 2007-08, the total amount of payments to counties for this program was $5,182,652.

To participate, seniors must apply to their individual county treasurer every year. The deadline is April 1st of each year. County treasurers are paid property taxes, from the Elderly Property Tax Deferral program, by April 30th and county reports are mailed at the end of December.

Requirements for eligibility:

Claimant must be 65 years or older, or a person called into military service on January 1 of the year in which the claim is filed.

Cumulative amount of the deferral plus interest must not exceed the market value of the property less the value of any liens.

Mortgage holder agrees that the state's interest in the property would legally come before his interest in the property.

All property taxes for prior years must have been paid.

Must own and occupy your residence - ill health will not cause you to lose deferral.

Must not be earning any income.

Procedures:

Claimant files an application each year with the county treasurer between January 1st and April 1st each year.

County treasurer issues a certificate of deferral.

County treasurer records the certificate of deferral, and sends the original to the state treasurer. One copy is given to the county assessor and one copy is retained in the county treasurer's office.

State treasurer charges interest beginning May 1, please contact the office for current rates.

Senior and Disabled Veteran Property Tax Exemption

A property tax exemption is available to senior citizens, surviving spouses of senior citizens, and disabled veterans. For those who qualify, 50 percent of the first $200,000 in actual value of their primary residence is exempted. The state pays the exempted portion of the property tax.

The Senior Property Tax Exemption is administered by the Department of Local Affairs; but the Treasurer's office is responsible for the distribution of state funds to counties representing the amount issued in exemptions.

In 2006, counties processed approximately 15,000 new applications, and the exemption was granted to most of them. Currently 145,600 properties are approved for the exemption.

In 2007, the State Treasurer reimbursed local governments $ 74,231,508.72 for exemptions granted in 2006.

Senior Exemption

The exemption is available to applicants who: a) are at least 65 years of age as of January 1 of the year of application, b) owned their home for at least 10 years as of January 1, and c) occupied it as their primary residence for at least 10 years as of January 1. Limited exceptions to the ownership and occupancy requirements are detailed in the qualifications section of the application. The senior exemption is also available to surviving spouses of seniors who met the requirements on any January 1 after 2001. The application deadline is July 15. The application form is available from and should be submitted to the county assessor.

Disabled Veteran Exemption

The exemption is available to applicants who: a) sustained a service-connected disability while serving on active duty in the Armed Forces of the United States, b) were honorably discharged, and c) were rated by the United States Department of Veterans Affairs as one hundred percent 'permanent and total' disabled. VA unemployability awards do not meet the requirement for determining an applicant's eligibility. The applicant must have owned and occupied the home as his or her primary residence since January 1 of the year of application; however, limited exceptions to the ownership and occupancy requirements are detailed in the eligibility requirements section of the application. The application deadline is July 1. Application forms are available from the Division of Veterans Affairs and from the Colorado Division of Property Taxation.

Would you want to be known as a Septic Diva?

More Importantly, Would you even want to know a Septic Diva? EEEEEEYEW!!!

Well, it's a fact; life in rural areas is different than life in the city.

In the City, you have sewer systems... that's it......... Let's don't discuss it anymore!!!

In rural areas, and in our area we have "sanitary septic systems" which consist of concrete vaults where the "stuff" goes and leach fields........where more "stuff" goes...................................................... As real estate agents, we need to be sure these systems are cleaned and in working order ( with the help of the Pumper guys & gals) for the new buyers.

The ladies in my office jokingly call themselves the Septic Divas. I'm relatively new, I don't think I've had enough experience to be included in the club, but on the other hand do I really want to be??!!!

WELL, IN RURAL AREAS, LIFE IS DIFFERENT.

Things have to be taken care of..................... and THAT'S THE WAY WE ROLL!

Thought for the day: Why would you engage a City Realtor when buying or selling a Country Home?

The Great Stupa of Dharmakaya, at the Shambhala Mountain Center near Red Feather Lakes, Colorado is the largest and most elaborate example of Buddhist sacred architecture in North America.

Standing 108 feet tall, it is a global destination, attracting thousands of visitors a year.

Construction began in 1988 and the Stupa was finally consecrated in August 2001. After 14 years of construction, the Stupa was formally opened to the public in August of 2001.

The Great Stupa of Dharmakaya is open to visitors daily from 9:00am to 6:00pm. You can visit the Stupa at any time without prior registration, although it is a good idea to call in advance (970-881-2184, ext. 454) to see if the Stupa is closed for a special event. Guided tours are also available.

The Center offers meditation retreats and many programs throughout the year, attracting world renown teachers. Everyone is welcome, either as a visitor, a student, or an experienced person who wants to deepen their practice.

One gorgeous autumn day, my sisters-in-law and I went to visit the Great Stupa of Dharmakaya. The 600 acres of the Shambhala Mountain Center is about a fifteen minute drive from the Village of Red Feather Lakes.

After we parked the car, we had a beautiful easy hike through golden aspen and sweet pine to get to the Stupa. Our tour guide explained the symbolism behind the different colored doors, located on each side of the building, and many other interesting facts about the Stupa. The intricate detail, all hand painted inside and outside is incredible. It is a very peaceful and beautiful place. If you are ever visiting the Red Feather Lakes area, I would definitely recommend a visit to The Great Stupa of Dharmakaya,

Visit their website to find out more about the Shambhala Mountain Center near Red Feather Lakes.

Glacier View Meadows Subdivision 4th Quarter 2008 Market Report

34 LOTS are currently on the Market

0 Sales Pending

2 Lots sold in the 4th quarter (6%)

Low $19,000 -- High $45,000

At this quarterly rate of activity, it will take over 2 years to sell the current inventory

39 HOMES are currently on the Market

3 sales are pending

10 Homes sold in the 4th quater (26%)

Low $108,000 -- High $427,000.

At this quarterly rate of activity, it will take a little less than 12 months to sell the current inventory

Interest rates are low and we have a good selection of lots and Homes. It's a great time to consider making your move to the mountains. Glacier View Meadows is an easy commute to Wellington, LaPorte or Fort Collins. If you are thinking about buying or selling, please contact me. I would be happy to help you.

Mary Douglas

United Country Ponderosa Realty , 970-881-2195, Red Feather Lakes, CO 80545