SB 25-029

Senate Bill 25-029, titled "Ranch Property Tax Clarifications," updates the definition of a ranch for property tax purposes in Colorado. It now includes land used for raising livestock with the goal of earning money, not just grazing. The bill also uses a broader definition of livestock that covers all animals typically considered livestock for property taxes. This change affects ranchers and farmers who pay property taxes on their land. Since the bill has been signed into law, it is now active and will impact how these properties are taxed moving forward.

Official Summary

Water Resources and Agriculture Review Committee. The bill broadens the definition of "ranch" for purposes of property taxation to include a parcel of land used for grazing or raising livestock for the primary purpose of obtaining a monetary profit rather than a parcel of land used only for grazing livestock for the primary purpose of obtaining a monetary profit. The bill also eliminates the limited definition of "livestock" included in the definition of "ranch" and replaces it with the general definition of "livestock" used for property tax purposes that includes all animals.(Note: This summary applies to this bill as introduced.)