C.R.S. § 39-3-118.5 — Business personal property - exemption - exemption authority for local governments

(1) For property tax years commencing on and after January 1, 1996, business personal property shall be exempt from the levy and collection of property tax until such business personal property is first used in the business after acquisition. (2) For the property tax year commencing on January 1, 2021, any county, municipality, or special district may exempt from its levy and collection of property tax up to one hundred percent of any business personal property. Source: L. 95: Entire section added, p. 1213, § 1, effective May 31. L. 2021: Entire section amended, (SB 21-130), ch. 75, p. 299, § 2, effective April 29. Cross references: For the legislative declaration in SB 21-130, see section 1 of chapter 75, Session Laws of Colorado 2021.