DENVER | People who lost their homes and businesses during historic Colorado floods and wildfires last year may still get some relief on their property taxes, but it’ll be smaller than initially expected.
The state Senate gave initial approval Tuesday to a proposal to forgive a portion of the property taxes of affected residents. As introduced in the House, the legislation would’ve had the state paying the property taxes for the entire year on homes destroyed by the natural disasters.
However, the bill did not have enough support to pass the Senate in its original form. So lawmakers amended the bill so the state will pay taxes only for the time after a property was destroyed.
The measure still needs a final vote in the Senate, and the House needs to concur before Wednesday.
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