C.R.S. § 39-3-126.5 — Mobile homes - low-value - exemption - legislative declaration - definition

(1) The general assembly hereby finds and declares that: (a) Mobile homes are unique properties that are subject to the ad valorem tax as if they are real property, but the tax is collected as if they are personal property; (b) The actual value of mobile homes can be quite low compared to other residential real property improvements; (c) For these low-value mobile homes, the actual collection costs attributable to a county assessor and county treasurer may exceed the total amount of taxes collected; (d) If the taxes owed on these mobile homes become delinquent, then all of the additional collection costs may exceed the taxes owed; and (e) This exemption will only have a de minimis impact on local government revenues. (2) As used in this section, mobile home means a mobile home as defined in section 39-1-102 (8) or a manufactured home as defined in section 39-1-102 (7.8) and, in either case, for which a certificate of title has been issued pursuant to part 1 of article 29 of title 38 and that does not have a certificate of permanent location pursuant to section 38-29-202. (3) For property tax years commencing on or after January 1, 2022, a mobile home with an actual value that is less than or equal to twenty-eight thousand dollars is exempt from the levy and collection of property tax. Source: L. 2022: Entire section added, (HB 22-1223), ch. 308, p. 2219, § 1, effective August 10.