Page 28 - PagosaMagazine
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The Pagosa Magazine & Real Estate Guide | 2014-2015 Winter/Spring Edition

Buyer’s Guide

...Continued

Building and Zoning: Each subdivi- ue. The result is the tax amount. Taxes are paid needs from time to time. It is usually money Part 3 - Other Important
in arrears. Taxes, which are paid in early 2012, well spent, but just be aware of the possibility of Consider ations
sion has its own covenants and restrictions. Be are for the tax year of 2011. Note: Taxes are re- assessments.
sure to get a copy and read them before you assessed every 2 years by the county assessor Inspections: When purchasing real
purchase. The county abides by the UBC and along guidelines set by the State of Colorado. Schools: We have approximately 1,500
approval of plans and inspections are required. See http://www.archuletacounty.org for more estate, you have the right to inspect everything.
Land use codes and zoning have been adopt- information. Property Taxes are expected to students in our local public schools. The This is your Due Diligence period of time. It is
ed by the county and Town of Pagosa Springs. continue to decrease in the near future for many elementary school offers kindergarten through important and wise to take full advantage of this
Make sure you can do what you want to do properties. 4th grades. The Middle School holds 5th through right before you close on a property rather than
with your property before you buy. See www. 8th grades. The High School has around 500 ending up in a legal battle afterward. Some
archuletacounty.org for more information. Property Owners’ Association students. There are also several private schools want to cut corners and not spend the money
Dues: Some areas have property owners’ and home schooling is popular. Please see the on surveys and inspections. This is not a good
Property Taxes: Vacant lots are taxed at education articles in this magazine for more info. idea. It could save you a great deal of stress
dues. An example is Pagosa Lakes. The and legal expense by spending the money and
about 3 times the rate as a lot with a residential current dues of approximately $220.00 per Fire District: The fire district situation has effort before the purchase is finalized. Here are
dwelling. Be assured your taxes are not going to property per year cover costs such as lake a few of the different inspections you may wish
skyrocket just because you build a home on your maintenance, clubhouses, legal fees, salaries, been extremely positive and shows what can be to have performed.
present lot. However, taxes do vary somewhat etc. All property owners in the Pagosa Lakes done with cooperation between the town and
from year to year. In Archuleta County, they are Resort Area are members of the Pagosa Lakes county. Fire protection is expanding, but there Home Inspection: For sure you want a
based on which special districts the property Property Owners’ Association (PLPOA) except are still areas that do not have fire protection.
is in. Each special district (school, water, sew- Pagosa Meadow Unit 1 and Pagosa Alpha Make sure you ask. It will affect insurance rates. Home Inspection by a qualified Home Inspector.
er, fire, hospital, etc.) assesses a mil levy. The area where property owners have the choice Also, look into a security system for your home, This almost goes without saying anymore,
combined mil levy is multiplied by the assessed to join or not. Some areas may have a special because some insurance companies may however, once in a while someone has second
value of the property to determine the tax bill for assessment for a particular purpose. All condo require that you have one installed, especially thoughts. Please have this inspection done. It
the property. The assessed value of a property and townhome developments have Property more expensive homes. Most home insurance will almost always turn up things you want to
is a percentage of the market value determined Owner Associations and Property Owner Dues. policies have a discount in place if you have a have fixed before you close.
by the Assessor. The assessed value of vacant Some Condo and Townhome associations working, professionally monitored fire/security
land is 29% of the market value. The assessed levy a special assessment for maintenance system. Property Survey: The next inspection of
value of a residence is 7.96 % of the market val-
equal importance is a survey of the property.

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28 Jim Smith Realty | 970-264-3200 | www.JimSmithRealty.com | www.Pagosa.com | 445 San Juan Street | PO Box 1680 | Pagosa Springs, Colorado 81147
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