The legislation would roughly quadruple property taxes
for tens of thousands of short-term rental homes in Colorado. It drew fiery testimony from more than 80 speakers at an October 31, 2023 hearing of the Legislative Oversight Committee Concerning Tax Policy
, which voted to advance the bill to the full legislature, slated for January 2024.
Upon arrival in the legislature, Bill 6 was reassigned a specific bill name and number: The Lodging Treatment for Property Tax Bill, SB24-033. This bill is authored by Senator Chris Hansen of Colorado Springs and Representative Mike Weissman of Adams and Arapahoe Counties.
After receiving its official designation as a bill, SB24-033 was scheduled to be heard by the Senate Finance Committee as its first stop in the legislative process (originally scheduled for February 20, 2024). Due to pending amendments and additional work to be done, this hearing has been delayed until sometime in March. SAVRM will keep you apprised of scheduling details as we receive them.Monitor SB24-033 here >>
For now, enter your property info in the fields below to calculate what a 400% property tax increase would mean for your short-term rental property. The table below calculates property tax rates based on local mill levies. If SB24-033 were to pass as currently written, this calculation will show you what your new property tax would become.