DENVER (CBS4) – Gov. Jared Polis desires to finish private enterprise property taxes for small companies. It’s a problem that strained enterprise house owners even earlier than the pandemic.
“The property tax went from $24,000 to $46,000,” Ron Tarver, Imperial Constructing Proprietor.
Tarver owns Denver Distillery and the Imperial Constructing that homes it. He’s one in all many enterprise property house owners who’ve felt the pressure of taxes ballooning inside the final 12 months.
“I’ve needed to put this property tax on my bank card,” he stated.
Tarver has a excessive restrict, however others usually are not capable of do the identical.
“It has put out of enterprise lots of people,” he advised CBS4.
Polis introduced his proposal to abolish the non-public enterprise property tax on the State of the State on Wednesday.
“Considerably elevating the edge in order that small, medium-sized companies don’t need to A, pay the tax,” Polis stated.
He explains the “B” level to that’s this may save house owners from the price of the paperwork and take away the danger of non-compliance.
“No matter helps me, will get shared proper down the road to all my tenants,” Tarver stated.
The governor has but to launch his plans, so it’s unclear how the loss in income could be fully absorbed, however the information is hopeful to folks like Tarver.
“We’re not all companies that you already know that may climate the storm, we’re not,” he added.