In 2011, the Colorado Legislature amended the real estate tax laws in an effort to curtail what it perceives to be an abuse of agricultural tax benefits. The concept appears to be that if someone has a house on their property, but is not pursuing an agricultural activity, then that house is really “residential” even though the rest of the acreage may be in an agricultural use. The residential area should then be categorized as “residential” and taxed based on the residential value, rather than on the lower agricultural value.
Specifically, the Legislature approved House Bill 11-1146, amending the definition of “Agricultural land” to exclude up to “two acres … of land on which a residential improvement is located unless the improvement is integral to an agricultural operation conducted on such land.” This new law will now be implemented by the County Assessors around the State of Colorado.
After a recent public presentation – the County providing a report and update to the , the County has posted some basic information about the new law, and the law itself, on the County’s web site: Commissionershttp://www.co.routt.co.us/commissioners/Assessor/House%20Bill%2011-1146_CountyWebPage.pdf