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Denver Implements Additional Business Tax Relief Efforts

Governor’s executive order allows for greater flexibility for business personal property tax filings

DENVER – Mayor Michael B. Hancock announced today that the 2020 Personal Property Declaration filing deadline will be extended from April 15, 2020 to June 15, 2020, as allowed by Governor Polis’ Executive Order (XO) #D 2020 022.

Effective immediately:

  • The XO will extend the 2020 Personal Property Declaration deadline to June 15, 2020.
  • The State Board of Equalization will adjust the remainder of the valuation, protest and appeals calendar to accommodate this later filing deadline.
  • The Assessor will send Notices of Value to personal property owners no later than August 3, 2020.
    • The city must still certify values to taxing jurisdictions by December for taxing jurisdictions to set their mill levies for 2021 tax collections.

The City will work with businesses to establish payment plans for delinquent business personal property taxes.

As of April 1, 2020:

  • Approximately 6,500 taxable business personal property accounts, or 46%, had not yet paid any amount of Business Personal Property tax.
  • Of all taxable business personal property accounts, 18% had paid the first half installment, and 35% paid the full amount.

The county treasurer will work with businesses to establish payment plans for businesses who opt for this new structure. More information on business personal property may be found at denvergov.org/assessor under the Business Personal Property button.

In addition to this relief program, the City has taken several steps to provide businesses support during these difficult times. In March, the Mayor instructed the Denver Department of Finance (DOF) to waive the 15% penalty for late payment of February and March sales, use, and occupational privilege taxes. DOF is evaluating extension of the waiver on a month-by-month basis.

The City also created an initial relief fund of $4 million to support small businesses with the goal of helping the people most directly impacted by COVID-19 disruptions. The programs are aimed at supporting businesses so they can, in turn, support their employees and includes microloans and cash grants of up to $7,500 to qualifying small businesses. Read more about business supports at denvergov.org.