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HB18-1036

Reduce Business Personal Property Taxes

Concerning the reduction of business personal property taxes.
Session:
2018 Regular Session
Subject:
Local Government
Bill Summary

There is currently an exemption from property tax for business personal property that would otherwise be listed on a single personal property schedule that is equal to $7,400 for the current property tax year cycle. The bill raises the exemption to $50,000 commencing in tax year 2018, and continues to adjust it for inflation for subsequent property tax cycles, so that businesses with personal property under $50,000, or the inflation adjusted amount, would not have to file the business personal property tax forms nor pay the corresponding tax.

The bill also raises the value of business personal property that qualifies for an exemption for consumable property from $350, which is the value set by the property tax administrator, to $500.


(Note: This summary applies to this bill as introduced.)

Status

Introduced
Lost

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Bill Text

COVID-19 Resources

Temporary Guidelines for Review and Comment Meetings

The House will meet in limited session on Thursday, April 2nd. The Senate adjourned. The Capitol will be open for the duration of the session for those with essential business related to the session. The building will not be available for public tours. People without essential business are encouraged to access the session through the General Assembly website and Colorado Channel.  Anybody with essential business related to the session will be required to practice appropriate social distancing measures.