The information is sorted by “superneighborhood” (economic neighborhood) and then by neighborhood (subdivision). The listed sales are qualified valid sales from July 1, 2020 through June 30, 2022.
If you do not find sales within your specific neighborhood, contact the Eagle County Assessor’s Office at 970-328-8640 for assistance.
The purpose of this tool is to find market sales transactions to compare with the assigned actual value of a subject property. Although there may never be a perfect comparable sale, this tool can assist in reviewing the most similar sales properties to any subject property. The function of this tool is similar to the duties of the Assessor’s office staff when using the market approach to valuation.
Comparison Tool - Getting Started User’s Guide:
- Enter the address or account number (subject property) you would like to compare to other qualified sale properties (comparable sales). Click Use This Property.
- To narrow or widen your search results you can change parameters on the left side of the screen. Search changes can be made to Distance from Subject, Area or Location, Square Footage, Bed Count, Bathroom Count, Type of Building or Sales Date.
- The search results can be viewed by clicking the blue “View Results” button on the left bottom part of the screen
- Choose what you think are the most similar properties to the subject, usually 3-5 comparable sales. In order to add a sale from the results list to the comparison tool (comparable grid) click the blank box next to the word compare on the comparable sale result, a blue checkmark should appear.
- Once you have chosen at least one comparable sale a new blue box shows up on the upper right-hand corner of the screen labeled “Open Comparisons (#)”. Click on that button to open up your comparable sales grid. This grid will show a side-by-side comparison of the subject property chosen to the comparable sale(s) chosen.
- If additional search changes need to be made or adding or removing comparable sales, simply close the Comparable Sales Grid, make any necessary changes to the search criteria and reopen the grid again.
- Once satisfied with the grid, there is a download button the bottom right corner of the grid screen so the grid can be saved and/or printed. There is also a map tab at the top of the grid screen that gives a download option as well. It may be necessary to scroll down to find the download button.
In order to provide a uniform comparison for valuation purposes, all properties are adjusted for their individual characteristics in the same way. This process leads to the equitable distribution of value amongst all properties throughout Eagle County.
The determination of actual square footage is initially based on original building plans. The dimensions of each property are confirmed by physical inspection and measurements. The next step is the calculation of the main living areas and sub-areas, i.e., porches, decks, outbuildings, etc. The actual square footage for each area is adjusted by different percentages to derive a value.
Garages are not included in the effective square footage calculation. Their value is determined separately based on the number of spaces.
A 2,000 square foot home consists of 1,000 square feet on the first level and 1,000 square feet of unfinished basement. Market data indicates that an unfinished basement will add approximately 30% to the value of a typical residential property. The property record card would read as follows:
Subarea | Actual SqFt | % | Effective SqFt
BAS Base Area (1st floor above ground) | 1,000 SqFt | 100% | 1,000 SqFt
UBM Unfinished Basement | 1,000 SqFt | 30% | 300 SqFt
Area Total | 2,000 SqFt | 130% | 1,300 SqFt
In this example, “BAS” is the main living area and is calculated using 100% of the actual square footage for above grade living area. This is also true for any other above grade areas such as “ONE” (One Story) or “FUS” (Finished Upper Story). “UBM” is the unfinished basement that is below grade. The effective square footage calculation of “UBM” uses 30% of the actual square footage.
The sum of the effective square footage (1,300 SqFt) is then multiplied by the *indicated dollar per square foot value for that neighborhood to establish the building value as follows:
1,300 Eff SqFt x $165 SqFt = $214,500 Total Actual Value
*Indicated dollar per square foot value is determined from market sales that occur in the data collection period for each two-year reappraisal cycle.
Note: The effective square footage will be printed on all of the Notice of Value forms and viewed this way.
By definition a time adjustment is, "An adjustment for the difference (if any) between market conditions at the date of sale of a comparable property and the date of appraisal (June 30, 2022) which results in a time adjusted sale price (TASP)."
A TASP is defined as, "The price for which a property sold at some given time, adjusted for the effects of inflation or deflation between the date of sale and the date of appraisal." There are four methods of time trend analysis approved by the State of Colorado. They include (1) sales ratio technique, (2) paired sales analysis, (3) property re-sale analysis and (4) multiple regression analysis. Eagle County reviews each method before any application is made to properties. In most cases, Eagle County relies on the multiple regression analysis along with the sales ratio analysis.
All available qualified sales were analyzed within various economic regions, (Vail, Avon, Edwards, Eagle, etc), and by type, (vacant or improved, residential or commercial). Each individual sale was then adjusted to the appraisal date of June 30, 2022.
For the 2023 reappraisal, 2 years of data spanning from July 1, 2020 was examined. In some cases a spline trend was applied (i.e. we accounted for differing appreciating rates over time).