Weld County’s final 2024 assessed value has been set at $19.69 billion. The value, approved by the board of commissioners recently, represents a $5 billion decrease from 2023’s total of $24.68 billion and is due primarily to oil and gas.
“Even though there is a loss in value, oil and gas still makes up 58.6% of the total valuation which is just one example of the importance of this industry in Weld County,” said Weld County Commissioner Chair Kevin Ross.
According to the final report dated Nov. 19, revaluation of oil and gas production and equipment decreased to $11.53 billion from $16.77 billion, which was a decrease of just over 31%. The Assessor’s Office is also required to reevaluate business personal property, other natural resources and state assessed property each year. Those three property types increased in value. The other valuation changes on vacant land, residential, commercial, industrial and agricultural properties reflect a change in use since the prior year. Vacant land value fell 3.6% to $144 million while residential property, which made up the second largest percentage of the total value, rose 3.3% to $3.35 billion. Commercial and industrial values increased by 4.5% ($1.78 billion) and 1.4% (1.54 billion), respectively. Finally, agricultural value decreased by 3.3% to land at $233 million.
To learn more about the Assessor’s Office, visit https://www.weld.gov/Government/Departments/Assessor.
