If your neighbors sold their Utah County home recently, they're probably seeing the world through rose-colored glasses. You, on the other hand, have your property assessment clinched in your fist and all you're seeing is red.

The county's recent assessments have hit mailboxes, and the sizzling housing market has pushed up values an average of 25 percent, said county Assessor Kris Poulson. That may mean a lot more green for nearly a dozen taxing entities looking to bump their funding this year.

"I'm as surprised as anybody," Poulson said of home values.

He's probably not as surprised as Dave Cabanilla, who saw his home in Provo's Riverbottoms neighborhood jump from $518,000 to $844,000 -- a 63 percent increase over last year.

Cabanilla, who's been in his home since 1991, said the assessment can't possibly be correct.

"The 844 is not real. I highly doubt I could get that," he said. "I'm not saying the county is doing anything criminal. It's just not right."

The county assesses the area's 150,000 properties each year. That value is then used in equations to set property taxes. A huge increase in home values is supposed to be offset by a lowering of the mill rate, to keep taxes from shooting up as well. Unless, of course, the city, county, school district or other taxing entity wants to collect more taxes, a move which is signaled by a truth in taxation hearing.

This year, all three school districts, six cities and a water district are asking for truth in taxation hearings. Eagle Mountain, though, has canceled its truth in taxation hearing, and possible tax increase. The city decided that additional revenue from growth would cover all its budget needs.

The Provo School District is looking for a 6 percent increase -- as much as $1.2 million -- on the amount it gathered last year, to pay for rising energy costs, personnel and keeping up with inflation. It's the first such increase in five years, said business administrator Kerry Smith.

"I can assure you it has nothing to do with the assessed values," Smith said. "It's not 'Get while the getting's good.' "

Poulson said the rising valuations are causing concern.

"It's not really driven by the economy, which has a lot of us worried," he said. One of the factors driving up the housing costs in Utah County are people from out of state selling their homes, moving to Utah and paying cash for a new house here, he said.

Property owners, like Cabanilla, who don't think their property values could have changed as much as the county says they have, can appeal.

Poulson said that a computer algorithm is used to assess properties. But that there can be errors in the system, especially when dealing with more than 100,000 properties.

"Just that number alone, you'll know that we make mistakes," he said.

Several thousand people appeal every year, said county clerk/auditor Bryan Thompson. The deadline to request an appeal is Sept. 17, and already as many as 900 people have an appointment with the board of equalization, aka the Utah County Commission. Just coming in to complain will probably get you nothing more than a friendly ear.

"If someone comes in just because they're frustrated, we'll definitely listen, but it helps if they can detail their cause," Thompson said.

That means have documentation, and plenty of it.

Whatever the eventual valuation evens out to, the county assessment is typically pretty close, says Lerron Little, president of the Utah County Association of Realtors. He came to that conclusion after completing several studies recently after customers asked if the county was really within the marketplace.

Home prices are really that high, he said, and will stay there until people decide that what they're paying is too much.

"Market value is what a willing buyer is willing to pay to a willing seller," he said.

Utah also has some catching up to do in the home value market. Typically slow to respond to national trends, the state is now catching up to the housing boom that has lasted several years nationwide. The good news, he said, is that while home prices in popular hot spots around the country have dropped dramatically, Utah is not likely to face the same problem.

"The rest of the country held a party and is now experiencing the hangover. Utah was slow to come to the party, but because of it we're not going to experience the hangover."

Home owners who can't afford to pay their property taxes have options. Tax abatements are available for property owners who meet disability or income guidelines. Information on abatements is available from the county clerk/auditor's office at 851-8225. That deadline is Sept. 1.

If you're going to challenge your valuation

1) Check for obvious errors.

2) Establish your property's value based on:

a) A recent professional appraisal.

b) Closing papers if you recently purchased or refinanced the property.

c) Documentation of recent sales of similar properties (comparables) in your area.

3) You must file your appeal within 45 days of the date of the Notice of Property Valuation. That day is Sept. 17.

You can get an appeal scheduled by calling 851-8228.

4) You may represent yourself, have someone represent you, or submit your written statement and documents for consideration.

5) If you are dissatisfied with the board's decision, the next level of appeal is the Utah State Tax Commission. After that, you'll have to go to court.

6) An appeal with the Tax Commission must be filed within 30 days of the date of the board of equalization decision. You must file your appeal in writing with the County Auditor.

source: Utah County Clerk/Auditor

Entities holding truth in taxation hearings:

Alpine School District -- Aug. 14, 6 p.m.; 575 N. 100 East, American Fork

Provo School District -- Aug. 14, 7 p.m.; 280 W. 940 North, Provo

Nebo School District -- Aug. 8, 6 p.m.; 350 S. Main St., Spanish Fork

Alpine -- Aug. 14, 8 p.m.; 20 N. Main St., Alpine

Cedar Fort -- Aug. 9, 7 p.m.; 372 S. 100 East, Cedar Fort

Cedar Hills -- Aug. 21, 7 p.m.; 3925 W. Cedar Hills Drive, Cedar Hills

Draper -- Aug. 16, 7 p.m.; 1020 E. Pioneer Road, Draper

Highland -- Aug. 15, 7 p.m.; 5378 W. 10400 North, Highland

Woodland Hills -- Aug. 15, 6:30 p.m.; 1105 S. Loafer Drive, Woodland Hills

Jordan Valley Water Conservancy District -- Aug. 9, 6 p.m.; 8215 S. 1300 West, West Jordan

This story appeared in The Daily Herald on page A1.