The Colorado Association of REALTORS® (CAR) is opposed to HB26-1036 –  Local Taxes on Vacant Residential Property. This bill would allow a local government to create an excise or a new property tax on vacant residential properties. The local government may use the revenues collected for affordable, attainable, or workforce housing.  The bill is aimed at addressing housing shortages by incentivizing productive use of residential units and generating revenue for housing programs. CAR has released a FACT SHEET on the bill.  CAR argues that the bill penalizes lawful use of private property, conflicts with the state requirement for uniform property taxation, and disrupts real estate transaction and home financing among other issues.

CAR is supporting SB26-001 – Workforce Housing & Housing Tax Credit.  The bill makes changes to how counties can fund housing and expands eligibility for a state tax credit designed to support middle-income housing development. Allowing counties to use general fund property tax revenue to support housing authorities and workforce housing initiatives is beneficial because it unlocks a stable, locally controlled funding source for housing solutions.  Another provision allows the middle-income housing tax credit to be claimed by entities that do not own the housing project. This makes the credit far easier to finance and use, which increases the likelihood that more workforce housing actually gets built.

CAR is opposing HB26-1047 – Protections for Residential Tenants. The bill focuses on how eviction cases and tenant notices are handled, and how landlords communicate with tenants about things like rent payment and legal actions.  There are concerns over the way the bill disproportionately impacts small property owners and risks shrinking rental supply rather than improving affordability.