Personal Property Exemption Could Benefit Many
House Bill 21-1312 increased the exemption threshold on personal property (tangible assets used in businesses/vacation rentals) accounts from $7,900 to $50,000. This means all personal property accounts that had a value of $7,901 or more and less than $50,000 that were previously taxable are now exempt.
Beginning in January 2022, declarations will only be mailed to personal property accounts that exceed $50,000. If the value is slightly under, you will receive a declaration as a reminder to declare any new assets.
You can check your account information at: https://eagleweb.laplata.co.us/assessor/web/