The Assessor has one job. To value your property. The Assessor does not set the tax rates, nor collect taxes. Those jobs are left to the State, County and City.
If the values are set too low, Pueblo County could lose essential services - if set too high, property owners could be paying too much.
But you may be thinking, how is this calculated? Colorado law requires that all real properties "shall be that value determined by appropriate consideration of the cost approach, the market approach, and the income approach to appraisal...". C.R.S. 39-1-103(5)(a).
As a Realtor and during my years as a paralegal, I can tell you that I have seen my fair share of appraisals - which look at recent home sales of similar properties - same lot size, same square foot, same bedrooms/bathrooms and make adjustments where needed. You have probably seen these when you purchased your property. This one may have an extra bath, or that one an extra garage space - or this one may be on a lot with great views. All of these factors are considered in determining your property value - either when appraisal time comes or when you decide to sell or look to buy a home.
For land values only, I'd look for water rights, terrain, if the property was fully fenced, if there are any structures on the land that would add to its value, if the land is suited for cattle and how many head and if so, if there are any city/county regulations that could pose a problem for a potential buyer/seller. You get the idea.
The Assessor sends a 'Notice of Valuation' (NOV) to the property owner, and the owner has the month of May to contest the value. 2022 is an 'off' year, as the NOV's are sent out in odd years unless there is a change in the property value.
So, when you receive an NOV, you have the month of May of the year you received it to contest the valuation. If you don't call or write the Assessor, that assessment becomes your assessed value for the following two (2) year(s). For example, everyone should have received an NOV in May of 2021, which reflects the value as of January 2021. This takes effect for tax year 2022. When you received your property tax bill in 2022, it should be based on the assessed value based on the letter from the Assessor in 2021. The tax bill is sent from the County Treasurer's office who collects the taxes.
Makes sense?