SB 25-259
signedEliminate Destroyed Property Tax Reimbursement Program
Plain-English Summary
AI-generatedSenate Bill 25-259 ends a state program that reimbursed property owners for taxes on real estate or business personal property destroyed by natural disasters, effective January 1, 2025. The law will be fully repealed by July 1, 2025, meaning no more reimbursements will be given after this date. This affects property owners who have suffered losses due to events like fires or floods and relied on the program for financial relief. Since the bill has been signed into law, it is now official and will begin its phase-out period as scheduled.
Official Summary
Effective January 1, 2025, the act terminates a program that has allowed the owner of real or business personal property that was destroyed by a natural cause to be reimbursed by the state for the amount of property tax levied on the destroyed property in the property tax year in which it was destroyed. The program statute is repealed, effective July 1, 2025.
(Note: This summary applies to this bill as enacted.)
Details
- Chamber
- Senate
- First action
- 2025-04-25
- Latest action
- 2025-03-31
- Last action desc.
- Introduced In Senate - Assigned to Appropriations
- OpenStates
- View source ↗
Related Legislation
This bill affects (22)
relatesHB 24-1056(2024A)· signedIssuance of Treasurer's Deeds
relatesHB 24B-1003(2024B)· signedBusiness Personal Property Tax Exemptions
relatesHB 17-1049(2017A)· signedEliminate Property Tax Abatement Refund Interest
relatesHB 17-1030(2017A)· signedUpdate 1921 Irrigation District Law
relatesHB 18-1315(2018A)· signedManufactured Home Sales Tax Exemption
relatesHB 22-1295(2022A)· signedDepartment Early Childhood And Universal Preschool Program
relatesSB 23B-006(2023B)· signedReal Property Valuation Cap
relatesSB 17-078(2017A)· failedResidential Storage Condo Unit Property Taxation
relatesHB 24-1036(2024A)· signedAdjusting Certain Tax Expenditures
relatesHB 22-1132(2022A)· signedRegulation And Services For Wildfire Mitigation
relatesSB 25-029(2025A)· signedRanch Property Tax Clarifications
relatesSB 23-303(2023A)· signedReduce Property Taxes And Voter-approved Revenue Change
relatesHB 24-1348(2024A)· signedSecure Firearm Storage in a Vehicle
relatesHB 24-1172(2024A)· signedCounty Revitalization Authorities
relatesHB 18-1283(2018A)· signedClassify Residential Land Change In Improvements
relatesHB 22-1301(2022A)· signedControlled Environmental Agricultural Facility As Agricultural Property
relatesHB 22-1296(2022A)· signedResidential Real Property Classification
relatesSB 17-302(2017A)· signedClarify Property Tax Exemption Silvicultural Equipment
relatesHB 22-1223(2022A)· signedMobile Home Property Tax Sale Notice And Exemption
relatesHB 22-1242(2022A)· signedRegulate Tiny Homes Manufacture Sale And Install
relatesSB 24-033(2024A)· signedLodging Property Tax Treatment
relatesHB 24-1299(2024A)· signedShort-Term Rental Unit Property Tax Classification
Affected by (6)
relatesHB 26-1239(2026A)· signedCounty Enforcement Authority
relatesHB 25-1113(2025A)· signedLimit Turf in New Residential Development
relatesHB 25-1219(2025A)· signedRequirements for Better Understanding Metropolitan Districts
relatesHB 26-1031(2026A)· signedProtections for Agricultural Products Grown in Colorado
relatesHB 26-1119(2026A)· failedAuthority for Different Mill Levy Rates
relatesSB 26-144(2026A)· signedModify Property Tax Lien Sales Treasurer Deeds & Fees
Votes
BILL
2025-04-10 · House · pass — Yes: 53 · No: 12 · Other: —
BILL
2025-04-03 · Senate · pass — Yes: 30 · No: 0 · Other: —
BILL
2025-04-03 · Senate · pass — Yes: 31 · No: 2 · Other: —