Senate Passes Bipartisan Roberts Bill to Spur Affordable Workforce Housing

Property tax credits and rebates aim to incentivize more affordable rentals 

DENVER, CO – Today, the Colorado Senate passed Senator Dylan Roberts’, D-Frisco, bipartisan legislation to grant local governments the authority to create property tax rebate programs to address areas of specific local concern including affordable housing development.

SB24-002 would allow local governments to establish property tax incentive programs to address critical issues related to housing, childcare, behavioral health, economic development and other areas of local concern. For example, under the bill, a municipality would be able to authorize tax credits or rebates that incentivize property owners to convert rental properties from short-term to long-term, boosting the availability of workforce and more permanent housing.

“Local governments are desperate for solutions to our state’s housing crisis and affordability issues, which is why this legislation is so important," said Roberts. "It will create valuable financial incentives for more long-term affordable rental housing for local workers instead of short-term rentals, more options for childcare, greater support for small businesses, and more. I'm thrilled this bill is moving forward with bipartisan support.”

The bill allows a local government to renew a tax rebate or incentive program for up to one year if they find that it has been effective in addressing the area of specific local concern.

SB24-002 now heads to the House of Representatives for further consideration. Follow the bill’s progress HERE.