Nothing fishy with that...that’s how the tax is assessed in CO. One of the only remaining benefit of living in Colorado is our low property tax. Give the liberals some time and they’ll find a way to screw us on that as well. My home’s assessed value is 420k and yearly property tax is about 2200.
I looked up my own information:) My assessed value of my home per the tax man is 26830 (which is what the mill rate for taxes is pulled from) and market value is 400k