Property Taxes

Real Estate Finance News Recap: April 2021

Here’s a quick digest of what happened in real estate finance last month:

+ With median gains in home values between 6% and 11% among metro counties, Front Range homeowners can expect to see an increase in their tax bills.

Mortgage rates remain under 3%, but could become more volatile in the months to come.

Biden’s proposed tax hikes could be a ‘double-edged sword’ for real estate — what homeowners and investors need to know that could reduce returns on certain property sales.


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What The Republican Tax Bill Means For The Value Of Your Home

Source: Samantha Sharf at Forbes

What the Republican Tax Bill Means for the Value of Your Home

Trump’s Tax Cuts & Jobs Act was released at the beginning of November (follow the live coverage about it on The Wall Street Journal’s website). Three major components of this Reform that are relevant to buyers, sellers, and investors are:

  1. the mortgage interest deduction will go from $1million to $500k,
  2. a new cap on property taxes, and
  3. capital gains limitations.

These all become more concerning as the median home price is approaching $500k in Denver.

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Worried about higher property taxes? 6 things you need to know about protests and alternatives.

Source: Aldo Svaldi at The Denver Post

6 Tips for Protesting Higher Property Taxes

If you disagree with the value of your property, the deadline to protest is June 1st. On the fence if you should protest? Find a friendly real estate broker (we know a couple!) to compare your house to recent neighborhood sales. If the value of your house comes out lower, then it may be worth it to protest. When working on your protest, focus on the condition of your property or compare the specs to county records. Finally, file at your assessor’s office in person, by mail, or online (if available).

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