#breckenridge #colorado #realestate
The last time the Summit County Assessor’s Office saw as many property valuation appeals as it is now, the United States economy was in a tailspin.
The Great Recession of 2008-09 marked the lowest point of economic activity since the 1930s. Across the country, millions lost homes. The unemployment rate skyrocketed to 10%. Property values evaporated.
But as property owners now see the inverse of that period, with property values at historic highs, they’ve responded with the same level of protest over their property valuation.
“I was maybe a little bit optimistic that we wouldn’t be at the 2009 levels,” said Summit County Assessor Lisa Eurich. “It’s a historic year.”
Eurich said her office has received more than 7,300 appeals from county property owners since June 8, the deadline for filing an appeal. That represents roughly 19% of all homes, commercial property and vacant land in the county. In 2021, the last year appraisals were made, the office saw appeals for 4% of all property.
