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ArapCo businesses receive tax exemption

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Contributed by: Nichole Parmelly on 6/24/2008

The Arapahoe County Board of County Commissioners adopted a resolution to provide a uniform exemption for business personal property taxes for the first $15,000 of actual value, at a public hearing today.

"This exemption alleviates some of the financial burden businesses face when managing taxes on capital equipment such as computers and medical equipment," said Commissioner Chair Susan Beckman. "This creates a healthy business friendly environment that makes Arapahoe County an ideal place for companies with large capital investments to relocate."

It is through this business friendly environment that Arapahoe County is able to provide the lowest mill levy in the Denver metro area, which helps all residents.

According to the Colorado Constitution (TABOR), each taxing district may enact uniform exemptions and credits to reduce or end business personal property taxes. The Board of County Commissioners previously approved an exemption from the property tax levy for business personal property for the first $10,000 in actual value of such property listed on a single schedule. This exempt amount was applied for tax years 2000 through 2006. Smaller amounts of uniform exemptions were approved in prior years. In 2007, the Board increased the exemption amount to $15,000.

Granting the exemption reduces the total value of property available for ad valorem taxes. Because of TABOR limitations, it does not necessarily reduce the total amount of revenues received by the County from property taxes.

For more information, contact the Arapahoe County Assessor's Office at 303-795-4600.

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Nichole Parmelly

Denver , CO

Nichole Parmelly has posted 138 stories and 0 comments since joining on 7/27/2006. Nichole Parmelly 's average story rating is 5.

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