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Finance Committee Agenda and Packet 2021 12 17
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Finance Committee Agenda and Packet 2021 12 17
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12/28/2021 2:15:29 PM
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12/20/2021 10:27:54 AM
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City Council Records
Meeting Date
12/17/2021
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Boards Commissions Committees Records
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House Bill 21-1312 increased the exemption threshold on personal property accounts from $7,900 to $50,000. This <br />means all personal property accounts that had a value of $7,901 or more, and below $50,000 that were previously <br />taxable are now exempt. The last line on this Certification of Valuation form reflects the assessed value amount your <br />entity has lost as a result of this bill. Procedures have been established to reimburse entities to account for the lost <br />property tax revenue. <br />Senate Bill 21-130 also passed in the 2021 legislative session. This bill allows any county, municipality, or special <br />district to exempt, from its levy and collection of property taxes, up to 100% of any personal property for the property <br />tax year commencing on January 1, 2021. If your taxing entity anticipates exempting any value under this bill, we <br />respectfully request that you notify our office no later than November 1, 2021. This will allow time to calculate the <br />exemption and have the new values reflected on the December Certification of Valuation. <br />Further information regarding House Bill 21-1312 and Senate Bill 21-130 and their impacts on your entity should be <br />discussed with your attorney. <br />2/258 <br />11 <br />
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