Property values in most Denver neighborhoods held steady or even dropped from 2022 to 2024, according to the latest data released by the Denver’s Assessor's Office.
Keith Erffmeyer, Denver’s assessor, said it ends a decade-long trend of steadily rising home values.
“The last time I can remember anything flat-ish, much less a reduction, would've been 14 years ago in 2011,” he said. “Even in the [reevaluation] that we did in the midst of COVID, which would've been 2021, we still saw increases.”
Every two years, Erffmeyer’s office does a whole lot of math to calculate the values of homes, land and other property across the city. Property value is the basis for determining property taxes, which fuel a little bit of the city’s budget and a lot of Denver Public Schools’ bottom line.
This year, the assessed value for the typical single-family or row home dropped 1.6 percent from two years ago. A neighborhood-level analysis shows much of that reduction happened in less affluent areas of the city — places like Barnum and Montbello, which had witnessed some of the largest percentage increases in previous cycles.
