Tax Exempt Leases
Tax Exempt Status (C.R.S. 39-3-124) for State Leased Space
As of January 1, 2009 the State shall be exempt from the levy and collection of property tax on all State leased properties during the term of the use and possession of the property. Property taxes are collected by the county, therefore each department will be responsible for informing the local county assessor of buildings leased by the state. Included within the bill is the requirement of submitting all leases and amendments to each individual county assessor. This applies to land leases as well as building leases.
Any real estate lease or amendment must be filed in a timely manor with the appropriate county assessor. Any termination of a lease prior to the term stated in Article 1 (B) of the lease must also be filed with the appropriate county assessor. This is the responsibility of the individual agency.
County Assessors
CRS 39-3-124
Training (PowerPoint)
Calculation Tool (Excel)
If you have any questions with any point in the process, please contact Jennifer Threlkeld at 720-813-7642 or jennifer.threlkeld@state.co.us