Senate panel OKs rollback of some Colorado ag-land tax breaks

Legislation that would roll back some of Colorado's generous agricultural tax breaks for landowners who aren't farmers or ranchers cleared a Senate committee Thursday. If House Bill 1146 wins approval in the full Democratic-controlled Senate and is signed into law as expected, it would represent a modest reform to a system that tax assessors and others have long criticized as broken. The Senate agriculture committee vote was 5-2, with Sen. Kevin Grantham, R-Cañon City, joining four Democrats who voted in favor. Under current law, property owners can qualify for an agricultural tax break by showing they tried to make a profit through agricultural use — a requirement so lax that people can qualify by letting cattle graze a couple of days a year. The legislation would allow assessors to tax at a higher residential rate up to 2 acres of land — including land underneath a residence — that aren't integral to an agricultural operation...more