About 100 condo owners in Arapahoe County surprised by big back-tax bills last month will have a year to pay them interest-free.
The homeowners in the Sorrel Ranch Metropolitan District found out they had not been included in a public-improvement district and so were not assessed for property taxes owed to the district.
The error was made by the Arapahoe County Assessor’s Office when the district was formed in 2004.
On Wednesday night, the metro district board decided to give the condo owners until Oct. 31, 2010, to pay back the taxes. The board also decided to let the residents pay in installments.
Some homeowners owed as much as $1,600.
The district’s bond holders must sign off on the deal, but their approval is expected, said Ann Finn, who manages the district. “We were doing everything we could to help the situation,” Finn said.
The homeowners could have been required to pay the back taxes within 45 days of notification, but the county extended that by 30 days.
