On 1-Month Anniversary of Marshall Fire, JBC Approves Nearly $6 Million in Property Tax Relief

Funding would reimburse counties for lost property taxes

DENVER, CO – The Joint Budget Committee this week approved nearly $6 million in additional funding to help county governments impacted by the Marshall Fire make up for lost property taxes as a result of diminished property values in the region.

The funding will be transferred from the General Fund to the Treasury Department, and then distributed to the affected counties. County assessors are in the process of reassessing property values in the region. These funds will be used to make up for lost revenue as a result of decreased property values. 

“The Boulder County community took a huge hit when the Marshall Fire destroyed homes and devastated families, and we know they’re desperate for relief,” said JBC Member Dominick Moreno (D-Commerce City). “While affected communities continue to rebuild and recover, we’re channeling critical funds to help offset the property taxes they lost due to the wildfires. Moving forward, we will continue to find ways to provide additional relief to these communities so we can support them in their recovery process.” 

“When cities and towns lose critical revenue, it means they don’t have the resources necessary to support vital services that keep their communities thriving – like schools, infrastructure, police and fire protection, and other local needs,” said JBC Member Chris Hansen (D-Denver). “These communities have been through a lot over the last month and we know how important it is to get folks help as soon as possible, which is why we’re taking this important step and delivering this urgently-needed relief.”