Personal Property Valuation

Colorado Statute requires anyone who owns a business or rents out their furnished residential property on a short or long term basis to declare their business equipment or residential rental furnishings/equipment. 

Short Term Rental Regulations

Summit County has adopted regulations for short-term vacation rentals located within unincorporated areas of Summit County. Learn more about the Short Term Rental Regulations.

Taxable Property

Taxable property includes, but is not limited to, the following:
  • Appliances
  • Artwork
  • Computers
  • Decorative Rugs
  • DVD, VCR, BluRay, 3D players
  • Equipment
  • Furniture
  • Hot tubs / spas
  • Machinery
  • Point of sale systems
  • Solar systems (installed on a commercial structure)
  • Telephone systems
  • Televisions

This includes all assets used in the business or the rental property whether acquired new, used or received as a gift or the result of a real estate or business sale. This information is required to be filed annually with the assessor.

Resources

Commercial Personal Property Brochure

Residential Personal Property Brochure

Declaration Form

Reappraisal

Personal property is reappraised every year. Usually these values are established using information submitted by the property owners; if complete and accurate data is not provided, the assessor uses other sources of information to set a reasonable value.

Notices of Valuation are sent on June 15*. The Assessor notifies owners of their valuations via a summary Notice of Valuation (NOV) postcard. More detailed information, as well as historical NOV images, can be viewed in the Notice of Valuation Archive.

* When a deadline falls on the weekend or holiday, the taxpayer, as well as the government, has until the following business day to timely file.