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Adams County begins review of business personal property tax incentive; staff seeks values-based updates
Summary
County staff outlined the history and mechanics of the business personal property tax incentive, described current practice (50% rebate up to eight years), and asked commissioners whether to modernize the scoring matrix to incorporate nonwage values such as public health and place-based benefits.
Adams County staff presented a review of the county’s business personal property tax incentive and asked the Board of County Commissioners for direction on whether to modernize the program’s scoring matrix to better reflect board priorities beyond jobs, wages and investment.
The incentive reduces the county portion of business personal property taxes—taxes on equipment, machinery and furniture—after a business pays its assessed liability. County staff said Colorado law allows local governments to rebated up to 100% of business personal property tax for up to 35 years, but Adams County’s current policy has historically provided a 50% rebate for up to eight years…
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