LoDo Property Taxes and Cost of Ownership currently
LoDo properties are subject to Denver County property tax assessment at rates reflecting downtown Denver's assessed value methodology. At LoDo's mainstream condominium price tier of $450,000 to $700,000, the annual property tax obligation is a real budget component.
HOA dues for LoDo buildings are among the higher of any market in this series, reflecting the significant amenity packages and building management costs that urban high-rise and mid-rise buildings require. Dues of $400 to $800 or more monthly are common in LoDo's more amenity-rich buildings. Understanding what the specific building's dues cover, what the reserve fund situation is, and whether dues increases are anticipated in the near term are all essential elements of the purchase evaluation.
Parking in LoDo carries a cost if not included in the unit purchase. Monthly parking in LoDo's commercial garages runs $150 to $250 monthly for reserved spots. For buyers who own cars and whose building does not include parking, this ongoing cost belongs in the monthly carrying cost calculation.
Corken + Company Real Estate Group | 303-858-8003 | corken.co | Real Estate Solutions Without Limits
