CO HB1233

HB 26-1233: Property Tax Procedures for Nonresidential Properties

• Civil penalties imposed for willfully failing to provide required valuation information or providing false information: up to $1,000 for first violation, $5,000 for second, and $10,000 for third or subsequent violations, effective for tax years beginning January 1, 2026

• Counties or the Board of Assessment Appeals may remove nonresidential property appeals to district court when valuations exceed $10 million, legal interpretation is required, extensive discovery is needed, or valuation methodology disputes exist

• Property owners who change income, expense, or other disclosures during the appeal process forfeit their right to the 1% monthly penalty interest (12% annually) on any tax refund

• Taxpayers have a 30-day cure period to correct errors after receiving written notice from the assessor, unless the initial filing was made with specific intent to defraud

• Courts and the Board of Assessment Appeals must consider changes in valuation information submitted by petitioners at different stages of the appeal process when weighing evidence and assessing credibility