The county assessor determines the actual value of personal property. By law, a declaration schedule must be filed annually with the assessor. Failure to file by April 15 will result in a 15% or $50 fee, whichever is less. Failure to make a complete disclosure of personal property will result in an additional penalty of 25% of the value of the undisclosed property.
If a declaration schedule is not filed, the assessor will estimate the value of the property. This is not contestable in court.
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Taxes are assessed beginning January 1 for the full year; therefore, taxes for the full tax year are due immediately upon the closing of a business. To avoid substantial penalties and the issuance of a distraint warrant, please notify the treasurer's Office before removing any equipment from the business.
Per Colorado Revised Statute 39-10-113: (1) (a) If at any time after the lien of general taxes has attached, the treasurer believes for any reason that any taxable personal property may be removed from the county or state of Colorado or may be dissipated or distributed, so that taxes to be levied for the current year may not be collectable, he may at once proceed to collect such taxes and, if he deems necessary, may distraint, seize, and sell such personal property to enforce collection.
Upon his request, the assessor shall certify to him the valuation for assessment of such personal property for the current year. If the levy for the current year has not been fixed and made, the levy for the previous year shall be used to determine the amount of taxes due. Call us for more information at 303-271-8330.
A distraint warrant is a document served by the sheriff that indicates the amount of overdue taxes, the due date and instructions prohibiting the removal or destruction of any property within the business. If taxes are still not paid, the property could be seized, advertised and sold for the amount of taxes and expenses due. Call us for more information at 303-271-8330.
Yes, distraint and sheriff's fees, advertising and other legal costs will be added to the taxes owed. Call us for more information at 303-271-8330.
Taxes are not due at the time of ownership transfer; however, personal property taxes may be collected in advance (although not required). Call us for more information at 303-271-8330.