Taxable Business Personal Property Notices of Valuation sent this week

Notices of Valuation to owners of Taxable Business Personal Property in Larimer County have been sent out by the Larimer County Assessor’s Office this week.

In addition to real property valuations, the assessor is required by Colorado State Statutes to value all business personal property for taxation purposes. Business personal property includes machinery, equipment, and leasehold improvements specific to a business operation.

Since the passage of HB21-1312 last year, many small businesses will see a tax break in 2022, due to the increase in Business Personal Property exemption to $50,000 from $7,900, according to Larimer County Assessor Bob Overbeck.

Taxpayers who disagree with their business personal property valuation and wish to protest may do so via U.S. Mail or in person on or before June 30. The Larimer County Assessor’s Office will review the account and mail a Notice of Determination by July 11. Businesses that disagree with the assessor’s determination may file an appeal with the Larimer County Board of Equalization. The appeal must be postmarked via U.S. Mail or hand-delivered by July 20. The BOE will render a decision by the close of business, Aug. 5.

Questions? Call the Larimer County Assessor’s Office at 970-498-7050, 8 a.m. to 4:30 p.m. Mon. – Fri.