The proposed State Senate Bill Senate Bill 20-109 creates a new classification of commercial rental properties taxing them in a new bracket more closely related to commercial properties, that are taxes at a rate nearly three times that of residential properties. The bill would create a non-residential unit used for short term stays that is occupied by the owner less than 30 days per year.
Janene Johnson, Chair of the Colorado Association of Realtors, stated the following,
"The Colorado Association of Realtors’ Legislative Policy Committee has come out in opposition to Senate Bill 20-109. This bill goes against one of the most important ideologies of the committee, which is to protect private property rights. As proposed, it would create a state-wide mandate on property taxes which is an issue much better served at a local level."
If you would like more information about this issue, please don't hesitate to get in touch.