§ 39-3-132 — Portion of property becomes tax-exempt

Colorado § 39-3-132

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Exemptions

Text

Whenever only a
portion of a parcel, tract, or lot of real property which was previously taxable
becomes exempt from the levy and collection of property tax for any reason, the
treasurer may, upon the basis of an appraisal and computation of the valuation for
assessment of such property by the assessor, either collect the property taxes
thereon for the current taxable year, calculated on the basis of the property tax
levy on such property during the preceding taxable year and prorated to the date
upon which title to such property was conveyed, or, if the treasurer is satisfied that
there is sufficient taxable real property remaining to satisfy any lien for the amount
of property taxes payable on such portion, he may defer collection of the property
taxes until the following taxable year. In the event the prorated taxes on such
portion are collected, the owner of the remainder of such real property shall be
credited with the full amount of taxes collected when the property tax levy for the
current taxable year has been fixed and made and the correct amount of property
taxes determined.

Legislative History

Source: L. 89: Entire article R&RE, p. 1479, � 1, effective April 23.