SB 24-097

Senate Bill 24-097 changes how Colorado handles mobile home sales when property taxes are unpaid. Instead of selling the mobile home and sending any leftover money from the sale to the county, this bill requires a public auction where the original owner or anyone else with legal rights can buy it back for at least its fair market value minus the tax debt. If there's extra money after covering the taxes, it goes back to the original owner or another person who has a right to it. The bill also gives mobile home owners an additional year (for a total of two years) to pay off their property taxes and keep their homes. Since the bill is signed, these changes are now law in Colorado.

Official Summary

Current law specifies that after the distraint sale of a mobile home to collect delinquent property taxes, any surplus proceeds from the sale must be credited to the county general fund. The bill modifies the distraint sale statute to require a public auction of the mobile home at a fixed fair minimum price with any surplus proceeds being paid to the owner, or any other person having established a legal right thereto, in order to bring state law into compliance with the United States supreme court's recent decision affirming a property owner's constitutional right to the value of their property in excess of their tax debt. The bill also extends the redemption period for the owner of a mobile home that is located on leased land or other land not owned by the owner from one year to 2 years.(Note: This summary applies to this bill as introduced.)