HB 18-1386

House Bill 18-1386, now signed into law, allows Colorado county treasurers to accept prepayments for property taxes from taxpayers who want to pay ahead of time. These payments can be made up to one year before the tax is due and do not earn interest for the taxpayer. The collected taxes are then distributed to local government entities in January of the year they become due. This bill affects property owners who might prefer to prepay their property taxes, providing them with an option to manage their finances more flexibly.

Official Summary

The bill authorizes a county treasurer to accept, at the option of a taxpayer, prepayments of property taxes. Payments can only be made within one year of when the taxes are due and no interest accrues to the taxpayer. The taxes collected are distributed to taxing entities in January of the year in which they become due. (Note: This summary applies to this bill as introduced.) , Read More