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ATTACHMENT B
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Resolution No. 115- 2024
12 4 2024
Sam Engen
4th December 2024
Greg Poschman, Steve Child, Kelly McNicholas Kury, Patti Clapper, and Francie Jacober.
HEARING OFFICER DETERMINATION
PITKIN COUNTY ABATEMENT HEARING
Property Owner’s Name: Ridge Road Casa LLC
Schedule No. R003983
TAX YEAR: 2023 VALUATION DATA COLLECTION PERIOD: January 1, 2021 – June 30, 2022
Property Address: 356 Ridge Rd, Aspen
Legal Description: Subdivision: RIDGE OF RED MOUNTAIN Lot: 4
Hearing Date: 11/19/24 Hearing Time:10 A.M.
Assessor's Representative: ___Wendy Schultz
Assessor’s Valuation: _$45,674,400 (does not include $55,000 reduction)_ Owner(s) Requested Value: _$32,000,000__
Owner(s) Justification for Appeal: See letter
Assessor's Justification for Valuation: Please see comparable sales grid.
Classification Code: 1112 / 1212__ Land: $9,000,000 Improvements: $36,674,400 Total: $45,674,400
TO BE FILLED OUT BY HEARING OFFICER:
Property Owner Present: Yes xx No ______
Determination: No Change xx Stipulation ____
The following Change: Present Value: ______________ Adjusted Value: _______________
Classification Code: ___________________ Land: ________________ Improvements: ________________
Total: $45,674,400
Hearing Officer Remarks: Petitioner relies on comparisons with valuations for some
neighboring properties. However, the statutes require exclusive use of market data.
Petitioner is concerned about the rapid appreciation experienced in the comparables chosen
by appraiser. H.O. notes that both the assessor’s study and the state audit confirmed 4.1%
appreciation on a monthly basis as applicable. Appraisers Comp 1 is also high on Red
Mountain and the time adjustment of $10 million is consistent with other sales. Comp 1 is
also adjusted significantly for its smaller size and effective year of construction 2015.
ATTACHMENT A