El Paso County commissioners deny Chestnut Springs tax abatement, citing market-value rules
March 11, 2026 | El Paso County, Colorado
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The El Paso County Board of County Commissioners on March 10 voted 5–0 to deny Chestnut Springs Holdings LLC's petition to abate property taxes for tax years 2023 and 2024.
The petitioner's representative asked the board to adjust the valuation of a 92‑unit multifamily property at 4331 North Chestnut Street (Holland Park submarket) to $11,165,000 as of the valuation date (June 30, 2022), saying changes in interest rates should be trended into the sale data to reach that figure. "We're requesting that the board of commissioners adjust their value to 11.165, for the 2023 tax year and the 2024 tax year," the petitioner stated during the hearing.
The assessor's commercial manager, Alex Butrin, urged the board to uphold the assessor's market-based value. "Today, the assessor's office is requesting that you uphold their value," Butrin said, describing the office's use of the market (sales) approach required by the Colorado Constitution and presenting a time‑trended assessed value of $14,734,807 for 2023–24 based on a December 30, 2021 sale and sales in the base period.
In discussion, commissioners repeatedly referenced the constitutional requirement to use the market approach and noted that the burden of proof lies with the petitioner to show the assessor's methodology is incorrect. The chair summarized that burden: "The burden of proof is on the petitioner to make that case to us that it has been done improperly." Commissioner Williams moved to uphold the assessor's recommendation and deny the abatement petition; the motion carried 5–0.
The board took a short recess during the hearing to allow staff to answer questions and reconvene with additional information.
What this means: The county will keep the assessor's valuation for Chestnut Springs Holdings LLC for tax years 2023 and 2024; the petitioner may pursue any further administrative or judicial remedies available under Colorado law.
The board then proceeded to hear a similar abatement appeal for Wind River Place Holdings LLC and later entered an executive session about tax-lien negotiations before adjourning.
The petitioner's representative asked the board to adjust the valuation of a 92‑unit multifamily property at 4331 North Chestnut Street (Holland Park submarket) to $11,165,000 as of the valuation date (June 30, 2022), saying changes in interest rates should be trended into the sale data to reach that figure. "We're requesting that the board of commissioners adjust their value to 11.165, for the 2023 tax year and the 2024 tax year," the petitioner stated during the hearing.
The assessor's commercial manager, Alex Butrin, urged the board to uphold the assessor's market-based value. "Today, the assessor's office is requesting that you uphold their value," Butrin said, describing the office's use of the market (sales) approach required by the Colorado Constitution and presenting a time‑trended assessed value of $14,734,807 for 2023–24 based on a December 30, 2021 sale and sales in the base period.
In discussion, commissioners repeatedly referenced the constitutional requirement to use the market approach and noted that the burden of proof lies with the petitioner to show the assessor's methodology is incorrect. The chair summarized that burden: "The burden of proof is on the petitioner to make that case to us that it has been done improperly." Commissioner Williams moved to uphold the assessor's recommendation and deny the abatement petition; the motion carried 5–0.
The board took a short recess during the hearing to allow staff to answer questions and reconvene with additional information.
What this means: The county will keep the assessor's valuation for Chestnut Springs Holdings LLC for tax years 2023 and 2024; the petitioner may pursue any further administrative or judicial remedies available under Colorado law.
The board then proceeded to hear a similar abatement appeal for Wind River Place Holdings LLC and later entered an executive session about tax-lien negotiations before adjourning.
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