6FE4426378096DDA87258A1B005EF162 Hearing Summary

PUBLIC
BILL SUMMARY For OVERVIEW OF HOUSING TAX POLICY

INTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Aug 30, 2023
Location HCR 0112

Overview of Housing Tax Policy - Committee Discussion Only

Attachment Tag

File Name

Attachment B

Attachment B.pdf

11:17:05 AM

Dr. Elizabeth Ramey, Legislative Council Staff, provided an overview presentation of Colorado housing tax expenditures. Her presentation may be found in Attachment B.

11:19:05 AM

She began by discussing the affordable housing tax credit and sales and use exemptions for housing authorities.

11:26:53 AM

Dr. Ramey continued by discussing the manufactured homes sales tax exemption.

11:30:23 AM

Dr. Ramey continued
by discussing the tiny home sales tax exemption. Committee discussion
ensued on the taxable status of a tiny home.

11:34:26 AM

Dr. Ramey moved on to tax expenditures for home buyers, including the first-time homebuyer savings account deduction and the employer assistance for home purchase tax credit.

11:39:56 AM

Dr. Ramey continued by discussing the federal home mortgage interest deduction.

11:41:03 AM

Dr. Ramey continued by moving on to property tax related tax expenditures, such as the homestead exemptions.

11:44:42 AM

Mr. Greg Sobetski,
Legislative Council Staff, came to the table to answer a committee question.

11:49:55 AM

Dr. Ramey continued by discussing the senior housing income tax credit. The refundable tax credit is for tax year 2022 only.

11:51:36 AM

Dr. Ramey continued by discussing the property tax, rent, and heat credit (PTC) rebate and the property tax deferral program.

Overview of Housing Tax Policy - Committee Discussion Only

Colorado General Assembly