CO SB033

Short-term rental units are classified as either residential or lodging property based on rental activity during the previous tax year, effective January 1, 2026.

Short-term rental units leased for 90 days or fewer are classified as residential property; those leased for more than 90 days are classified as lodging property.

Actual value for short-term rental units classified as lodging property must be determined solely using the market approach to appraisal, not other valuation methods.

Assessors must annually notify short-term rental unit owners of the number of days leased in the previous year, with owners able to dispute the figure by providing supporting evidence by April 15 each year.

Property tax administrator must establish and maintain a statewide database and uniform reporting system beginning January 1, 2026 to track short-term rental units by county.