Letter: Larimer assessments ‘substantially overstated’

Dear editor,

My name is Derek Maunsell. I am an MAI-designated appraiser based in Fort Collins, and I have been professionally valuing real estate in Larimer County for more than 30 years. My recent experience with the Larimer County Assessor’s Office during the 2024 revaluation has raised serious concerns regarding both fairness and accuracy.

The county’s reliance on sales comparables that are not truly comparable in terms of economics, location, condition, or features produces assessments that are substantially overstated relative to actual market values. This practice undermines confidence in the system and imposes an unnecessary burden on property owners, who deserve valuations grounded in real, defensible data.

I fully recognize that appraisal is, by nature, an opinion of value — but it must be an opinion supported by facts and comparables that share a similar highest and best use. I also understand the scale of the assessor’s workload, given the sheer number of properties to be valued, and I am sensitive to that challenge.

That said, the current approach appears designed to establish inflated values, anticipating that most appeals will result in negotiated reductions before the Board of Equalization. Even more concerning, we have experienced situations where, if a property owner protests after receiving minor adjustments to the Notice of Determination, the assessor’s office has responded by raising the value again prior to the Board hearing. This comes across as vindictive and creates the impression that the process is punitive rather than impartial

By starting from an artificially high figure and then increasing values further during protest, the county compels property owners to invest significant time, money, and effort to obtain a fair outcome. Such practices not only erode transparency and equity but also damage public trust in the revaluation process itself, leaving taxpayers questioning whether the assessor’s office is truly committed to accuracy or merely relying on a system that favors administrative convenience over fairness.

Derek R. Maunsell, MAI

Principal

DRM Real Estate Advisors LLC

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