Businesses Eligible for Personal Property Tax Credits in Montrose County

Jan 14th @ 4:50 pm in Local Events, News, Public Service by Scott Staley

As part of an ongoing effort to support local economic activity, Montrose County is able to offer personal property tax credits for new and expanding businesses. State law allows Colorado counties to negotiate agreements for personal property tax credits with qualifying businesses. Due to a recent change in state statute, counties may now credit up to 100% of personal property tax for new and expanding businesses. The term of negotiated agreements may be up to ten (10) years.  These credits apply only to the county portion of personal property tax owed and do not apply to the personal property tax collected by the school district or other taxing entities.