Colorado § 30-11-132 - Property tax incentive programs for areas of specific local concern - definitions.

§ 30-11-132. Property tax incentive programs for areas of specific local concern - definitions.

(1) As used in this section, unless the context otherwise requires:

(a) (I) "Area of specific local concern" means a use of real property in a county that is determined by a board of county commissioners to be diminishing or unavailable based on verifiable data and which use the board of county commissioners finds and declares necessary for the preservation of the health, safety, or welfare of the residents of the county, including as to matters of equity, access to housing, and access to education.

(II) "Area of specific local concern" does not include a use of real property in a county that harms or may reasonably be expected to harm a disproportionately impacted community as defined in section 24-4-109 (2)(b)(II).

(III) "Area of specific local concern" does not include a use of real property in a county that prevents or may reasonably be expected to prevent meeting the minimum greenhouse gas emission reduction goals and deadlines established in section 25-7-102 (2)(g).

(b) "County" means any county or city and county in the state.

(c) "County property tax credit or rebate" means a partial or full credit or refund of county property taxes owed or paid by a program participant in accordance with a county property tax levy.

(d) "Incentive program" means a property tax credit or rebate program intended and designed to directly incentivize improvement in an area of specific local concern as specified in a resolution or an ordinance adopted by a board of county commissioners.

(e) "Municipality" has the same meaning as set forth in section 31-1-101 (6).

(f) "Program participant" means an owner of real property in the county that has applied and meets the criteria set forth by resolution or ordinance adopted by the board of county commissioners to participate in an incentive program and that in fact participates in the incentive program.

(2) Notwithstanding any law to the contrary, a county may offer an incentive, in the form of a county property tax credit or rebate, to a property owner that is a program participant in an incentive program established in accordance with this section.

(3) (a) An incentive program must be established by resolution or ordinance adopted by a board of county commissioners at a hearing that is open to the public and that includes an opportunity for public testimony. The county must notify the clerk of each municipality that is wholly or partly located in the county and that may be impacted by the incentive program of the hearing at least thirty days in advance. The notice must describe the specific area of local concern, including the use of real property, addressed by the incentive program and the proposed county property tax credit or rebate. Each municipality must have an opportunity to submit written comments and provide testimony at the hearing.

(b) An ordinance or a resolution adopted by a board of county commissioners must include:

(I) The board of county commissioners' findings and determinations regarding the diminishment or unavailability of a use of real property in the county that gives rise to an area of specific local concern that is the basis for the incentive program; and

(II) Specific criteria for the qualification of program participants.

(4) The opportunity to be a program participant must be equally available to all owners of the same class of real property located in the county whose use of their property is an area of specific local concern.

(5) (a) The board of county commissioners shall, on an annual basis, evaluate each incentive program established pursuant to this section to determine its effectiveness in improving each area of specific local concern identified in the ordinance or resolution creating the incentive program.

(b) The board of county commissioners shall, on an annual basis, publicize the results of the evaluation of each incentive program established pursuant to this section at a hearing that is open to the public and that includes an opportunity for public testimony.

(c) The board of county commissioners may renew an incentive program for not more than one year if the board of county commissioners determines that the incentive program has been and is likely to continue to be effective in addressing each area of specific local concern identified in the ordinance or resolution creating the incentive program.

Source: L. 2024: Entire section added, (SB 24-002), ch. 25, p. 73, § 3, effective August 7.

Cross references: For the legislative declaration in SB 24-002, see section 1 of chapter 25, Session Laws of Colorado 2024.