CO HB1132

Classifies residential storage condominium units as residential improvements, allowing them to be assessed at the residential property tax rate of 7.96% instead of the nonresidential rate of 29%.

Defines a residential storage condominium unit as a building unit over 400 square feet (or any size if in the same common interest community as the residence) used to store items related to the owner's Colorado residence and not used for business purposes.

Requires property owners to annually submit a signed affidavit of intended use to the county assessor by March 1, along with ownership documentation proving the owner of both the storage unit and residence are the same person.

Limits owners to claiming only one building unit per residence as a residential storage condominium unit; claiming multiple units disqualifies all claimed units for that tax year.

Establishes penalties for knowingly providing false information on affidavits, including disqualification of the unit, repayment of unpaid taxes, and upon perjury conviction, double the unpaid taxes plus interest.