Colorado tax aid for disaster-destroyed homes advances; relief would cost state $2.2M

DENVER - Colorado residents who lost their homes in last year's floods and wildfires could get property-tax relief under a bill advancing in the state legislature.

With the bill, residents who already paid taxes on their destroyed properties would get a refund. Those who have yet to pay will get a letter in the mail saying they don't owe any property taxes.

The county assessors will notify the state treasurer which properties qualify for the tax break, and the state will pay the counties.

Lawmakers voted 11-1 in the House Finance Committee Wednesday to move the bill forward. It will be heard by another committee before being considered by the full House.

Legislative analysts have estimated the tax relief would cost the state $2.2 million.

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