Adams County to adjust warehouse assessments

DENVER - Colorado officials and the Adams County assessor have agreed that commercial warehouses in the county were undervalued by $19 million.

The state investigated the county's assessments after The Denver Post reported that County Assessor Gil Reyes hadn't changed the taxable values of warehouses owned by his largest campaign contributor through two terms of office.

Reyes faces charges of official misconduct for those assessments. He denies wrongdoing. He previously pleaded guilty to a misdemeanor charge related to accepting sports tickets from the donor.

State Property Tax Administrator JoAnn Groff said Thursday that the state and Reyes agree 54 warehouses will be reduced in value, and 215 will be increased. They still disagree on assessments of five warehouses.

Groff says the new assessments will boost county tax revenue by $1.9 million.