Colorado Tax Break Change For Some Ag Land Becomes Law
DENVER (AP) - Gov. John Hickenlooper has signed into law a measure that eliminates tax breaks for small properties that are classified as agricultural but aren't being used for farming or ranching.
Hickenlooper signed the proposal Monday. It allows assessors to reclassify up to 2 acres of land to be taxed at a higher residential rate if the land isn't considered integral for an agricultural operation.
Supporters of the legislation say it will prevent people from taking advantage of a tax break intended for farmers and ranchers. But opponents worry small landowners with some livestock on their land may still have to pay more taxes.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
