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The state of Colorado and Adams County Assessor Gil Reyes have agreed that the county undervalued its commercial warehouses by a total of $19 million -- Article by Denver Post

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The state of Colorado and Adams County Assessor Gil Reyes have agreed that the county undervalued its commercial warehouses by a total of $19 million -- Article by Denver Post

The agreement will bring the county a $1.9 million increase in tax revenues, State Property Tax Administrator JoAnn Groff announced Thursday. Reyes, who had previously criticized the state's recommendations, agreed with its appraised values on all but five commercial warehouses after Groff sent her staff to Adams County to inspect the warehouses in question. "We are in the process of making corrections," Reyes said at a meeting of the State Board of Equalization, which oversees the work of Colorado's 64 county assessors. The office "will implement those in the next week." Groff told the board that an agreement had been reached after her office provided the county with staff field work. "Overall, the tax base of Adams County has really been improved," she said. "I believe the assessor feels that way as well.

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