Tax Credit Considered for Colorado Disaster-Destroyed Homes

March 14, 2014

Colorado residents who lost their homes in last year’s floods and wildfires still have to pay property taxes, but state lawmakers are trying to change that law.

A bill being heard in a House committee Wednesday would give homeowners whose homes were destroyed a tax credit to cover their property tax bill after they pay it, but the bill is likely to be amended.

Some lawmakers who support the idea of a tax break have said they don’t think the homeowners should get a property tax bill in the first place.

Legislative analysts have estimated the tax relief would cost the state $2.2 million.