SB 17-009

Senate Bill 17-009 increases a tax exemption for small businesses in Colorado. Currently, businesses don't have to pay property taxes on personal items worth up to $7,300. This bill raises that limit to $10,000 for the next two years and will adjust it based on inflation afterward. The bill has been signed into law, meaning businesses can now benefit from this higher exemption immediately.

Official Summary

There is an exemption from property tax for business personal property that would otherwise be listed on a single personal property schedule that is equal to $7,300 for the current property tax year cycle. The bill increases the exemption to $10,000 for the next 2 property tax years and adjusts it for inflation for subsequent property tax cycles. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Votes