The value of property in El Paso County as a whole has declined by eight percent to 10 percent during the economic recession,  according to preliminary data collected by the El Paso County Assessor’s Office.

“Some neighborhoods have seen declines in excess of 30 percent,” County Assessor Mark Lowderman said in an interview Thursday.

 That means many property owners likely will see a reduction in tax bills mailed out in January 2012, Lowderman said. The size of that reduction, which will be based on property values from June 30, 2008 through Dec. 31, 2009, has not yet been determined and will vary.

The decline in property values will affect every entity in El Paso County that depends on property taxes, including cities such as Colorado Springs, Manitou Springs and Fountain; fire districts; and water districts, Lowderman said.

 “When you have a 10 percent drop in property tax revenue you’re talking about a lot of resources,” Lowderman said.

Local governments and special districts will be faced with some tough choices, he added. They will have to deal with less revenue or ask voters for a tax increase.

 “I think the voters have spoken and said they are not going to stand for a tax increase.”

County administrator Jeff Greene said he was aware of the looming shortfall. “We’re being very careful in managing our expenditures of funds.”

Greene said he didn’t anticipate county layoffs. El Paso County two years ago laid off about 200 people and froze 90 positions.

Commissioner Dennis Hisey said he’s hopeful that sales tax revenue may rebound and offset the loss of property tax revenue. “Since we get a larger share of our money from sales tax revenue, it only has to bump up a little to make up the difference.”

In the meantime, the county is trying to spend less on maintenance, personnel and other expenses, Hisey said.

 Lowderman said it’s become more difficult to accurately appraise commercial and industrial properties. “The sales prices are all over the place,” he said. “It’s not uncommon to see prices 30 to 40 percent below what we have on the tax rolls or 30 to 40 percent above.”

To help with the re-appraisals, Lowderman began sending out surveys a month ago to about 3,500 owners of strip malls, office buildings, retail centers and industrial parks, asking them about their occupancy rates and rents.

“This is aimed toward more accurately valuing commercial properties. We know some of these owners are struggling. We know they’re having trouble keeping tenants or attracting tenants and that’s what we’re trying to identify.”

Lowderman said assessors in other counties routinely send out similar surveys, which are voluntary and kept confidential.

So far, about 10 percent of the property owners have responded. “If we get 25 to 30 percent I’ll be delighted,” he said.—Call the writer at 476-4825.

Vail skier Lindsey Vonn, pictured Wednesday showing the 6-inch section of her right shin that she bruised Feb. 2 while training in Austria, performed a downhill practice run Thursday at the Vancouver Games. Her training run for Sunday’s super combined was canceled because of nasty conditions in Whistler. She’ll try again Friday and Saturday. Photo by THE ASSOCIATED PRESS

Marcio Sanchez