Comment on One Colorado county’s property values just plummeted. Here’s why officials aren’t panicking amid oil booms and busts.

One Colorado county’s property values just plummeted. Here’s why officials aren’t panicking amid oil booms and busts.

The subject line of a press release this month from Weld County was stark and foreboding: “County’s assessed value sees 20% decrease.” The cratering of taxable property value in the large county that hugs metro Denver’s northeast corner — from nearly $25 billion in 2023 to just under $20 billion this year — would probably send many county finance directors running to the medicine cabinet for a fistful of antacids. But for Cheryl Pattelli, it’s all part of managing the books for a county whose economy relies largely on boom-and-bust commodity industries, like agriculture and energy, that can experience wild swings in both price and production. Energy, in particular, plays an outsized role.

 

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