CO HB1143

Classifies residential storage condominium units as residential improvements for property tax purposes, allowing assessment at the residential rate of 7.96% instead of the nonresidential rate of 29%.

Defines a residential storage condominium unit as a unit under the Colorado Common Interest Ownership Act used by an owner or lessee (with a lease term of one year or longer) to store items related to the owner's or lessee's residence, and not used for business-related storage.

Requires building unit owners to submit a signed affidavit to the county assessor on or before January 1 of each property tax year confirming the unit meets the definition of a residential storage condominium unit.

Establishes that an affidavit remains valid for all following property tax years until the building unit is transferred to a new owner or the owner notifies the assessor that the unit no longer meets the definition.

Authorizes assessors to inspect building units to confirm qualification and requires the property tax administrator to establish standards and affidavit forms; applies to property tax years commencing on or after January 1, 2015.