Colorado § 39-3-129 Proportional valuation - exempt property

Colorado Statutes

§ 39-3-129 — Proportional valuation - exempt property

Colorado § 39-3-129

Title 39Taxation

Art.Exemptions

This text of Colorado § 39-3-129 (Proportional valuation - exempt property) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 39-3-129 (2026).

Text

(1)Except as otherwise provided in subsection (2) of this section, whenever any real property that was previously taxable becomes legally exempt from the levy and collection of property tax or any real property that was previously legally exempt from the levy and collection of property tax becomes taxable, the valuation for assessment of the real property shall be a proportion of the valuation for assessment of the real property for the entire taxable year based upon the ratio of the portion of the taxable year in which the property is taxable to the entire taxable year. In the event the real property is partially leased, loaned, or otherwise made available to and used by a business conducted for profit, the determination as to what portion of the real property is so utilized sh

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(1) Except as
otherwise provided in subsection (2) of this section, whenever any real property that
was previously taxable becomes legally exempt from the levy and collection of
property tax or any real property that was previously legally exempt from the levy
and collection of property tax becomes taxable, the valuation for assessment of the
real property shall be a proportion of the valuation for assessment of the real
property for the entire taxable year based upon the ratio of the portion of the
taxable year in which the property is taxable to the entire taxable year. In the event
the real property is partially leased, loaned, or otherwise made available to and
used by a business conducted for profit, the determination as to what portion of the
real property is so utilized shall be made by the administrator on the basis of the
facts existing on the annual assessment date for the real property. The
administrator shall have the authority to determine the actual value of the
nonexempt portion of the property in relation to the actual value of the entire
property by using the ratio of the square foot area of the property utilized by the
business conducted for profit to the total square foot area of the property. Where
shown to be more appropriate, in order to determine the relationship between the
actual value of the nonexempt portion of the property and the actual value of the
total property, the administrator may employ the ratio of the portion as measured in
hours of any calendar year in which the property is leased, loaned, or otherwise
made available to and used by any business conducted for profit to the entire
calendar year.

(2) The provisions of subsection (1) of this section shall not be applicable to
household furnishings.

Legislative History

Source: L. 89: Entire article R&RE, p. 1478, � 1, effective April 23. L. 96: (1) amended, p. 44, � 2, effective March 20; (1) amended, p. 1200, � 4, effective June 1.