Colorado

Mar 29, 2011 2:03 PM by Greg Boyce

State House eliminates tax breaks for some properties

DENVER (AP) - The Colorado House has given final approval to eliminating tax breaks for small properties that aren't being used for farming or ranching.

The proposal would allow assessors to reclassify up to 2 acres of land to be taxed at a higher residential rate if the land isn't considered integral for an agricultural operation.  House Bill 1146 passed on a vote of 41-24 Tuesday with most of the no votes coming from Republicans. It now goes to the Senate for
consideration.

Supporters say the bill is needed to prevent people from taking advantage of a tax break intended for farmers and ranchers. Opponents say small landowners with some livestock on their land may still have to pay more taxes.

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