CLICS/CLICS2023A/commsumm.nsf
PUBLIC
BILL SUMMARY For OVERVIEW OF HOUSING TAX POLICY
INTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Aug 30, 2023
Location HCR 0112
Overview of Housing Tax Policy - Committee Discussion Only
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11:17:05 AM |
Dr. Elizabeth Ramey, Legislative Council Staff, provided an overview presentation of Colorado housing tax expenditures. Her presentation may be found in Attachment B.
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11:19:05 AM |
She began by discussing the affordable housing tax credit and sales and use exemptions for housing authorities.
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11:26:53 AM |
Dr. Ramey continued by discussing the manufactured homes sales tax exemption.
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11:30:23 AM |
Dr. Ramey continued
by discussing the tiny home sales tax exemption. Committee discussion
ensued on the taxable status of a tiny home.
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11:34:26 AM |
Dr. Ramey moved on to tax expenditures for home buyers, including the first-time homebuyer savings account deduction and the employer assistance for home purchase tax credit.
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11:39:56 AM |
Dr. Ramey continued by discussing the federal home mortgage interest deduction.
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11:41:03 AM |
Dr. Ramey continued by moving on to property tax related tax expenditures, such as the homestead exemptions.
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11:44:42 AM |
Mr. Greg Sobetski,
Legislative Council Staff, came to the table to answer a committee question.
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11:49:55 AM |
Dr. Ramey continued by discussing the senior housing income tax credit. The refundable tax credit is for tax year 2022 only.
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11:51:36 AM |
Dr. Ramey continued by discussing the property tax, rent, and heat credit (PTC) rebate and the property tax deferral program.
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