Property Tax FAQ

Significant Events in Property Tax History

What types of property are taxed?

Two types of property are subject to tax:
1. The first type is real property which includes land and any "improvements", mainly buildings, attached to the land.
2. The second type is personal property. As defined by law, these properties include agricultural machinery, office machinery and equipment, supplies and materials held not for sale, and furniture and fixtures used in conducting a business. Property owners are responsible for filing the personal property affidavit every year.

How is my property value determined?

The assessed value is 100% of true and fair market value. It is an estimate of value using one or more of three methods:

Market: This method uses sale comparisons of properties to provide estimates of value for similar property.
Replacement Cost: This method determines the reproduction or replacement cost less accrued depreciation of the improvements.
Income: This method measures the income stream which would be expected from a prudently managed piece of property. The income method may be used for business property valuation.

If I think that the value on my property does not represent market value, what can I do?

If you think the assessment does not reflect market value, you should consult the Assessor's Office. The appraisal will be reviewed, and if you still think the assessment does not reflect market value, you may petition for a hearing before the County Board of Equalization within 30 days of the mailing of the Notice of Value.

Are the taxes the same throughout the County?

No. Different areas of the County may show quite a difference in the taxes of property with the same assessed value.

Why does such a difference exist?

Such differences are due to three factors:
1. The various combination of taxing districts in different areas of the county.
2. The size of the budget of each taxing district.
3. The presence of special levies and bonds approved by the voters.

Where do our property taxes go?   

Can Taxing Districts raise their budget to any amount?

Taxing district's budgets are limited to no more than 101% of the highest amount that could have been lawfully levies since 1985. They can not exceed this amount without a vote of the electors. However, districts with more than 10,000 population may increase revenue by 101% but will require a supermajority vote of the district's legislative body, otherwise their levy may not exceed the Implicit Price Deflator (IPD) rate of inflation. NOTE: New construction, annexations and excess levies approved by the voters are not included in the 101% limit. Thus a taxing district's actual revenue increase may be greater than 1% or the IPD, whichever is lower.

What is the Distribution of the Tax Dollar for San Juan County?

What if my property is destroyed?

Any real or personal property destroyed in whole or in part may be eligible for reduced assessed value for taxes. Inquire at the Assessor's office for more information.

More property tax statistics.