us-co/statute/39/39-5-108.5 — Furnished residential real property rental advertisements - information to be provided to the assessor

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(b)Each owner of taxable personal property is required by…∀ 1#

(b) Each owner of taxable personal property is required by law to list the owner's taxable personal property on the personal property schedule, and the receipt of a personal property schedule from the assessor provides notice to a property owner that the property owner may own taxable personal property, which helps to ensure that:

(I) More property owners comply with state property tax laws;

(II) The property tax burden is more fairly distributed; and

(III) The amount of property tax revenues lost by local governments due to property owners' lack of knowledge regarding the taxable status of certain personal property is minimized;

(c)Personal property that is used to furnish residential…#

(c) Personal property that is used to furnish residential real property is exempt from property taxation so long as it is not used for the production of income at any time, but generally becomes subject to taxation if the residential real property is offered for rent on a furnished basis or otherwise used for business purposes;

(d)In certain areas of the state, a high proportion of…#

(d) In certain areas of the state, a high proportion of residential real property is advertised for rent on a furnished basis directly by property owners or by real estate agents, property management companies, lodging companies, and internet and print-based listing services that act as agents for multiple property owners and advertise multiple properties for rent, and because the advertisements typically do not precisely identify the property offered for rent by address or the owner's name:

(I) It is difficult for each assessor to accurately identify which parcels of furnished residential real property are being offered for rent and to which owners of furnished residential real property the assessor should provide personal property schedules; and

(II) This difficulty impairs the fairness and efficiency of the property tax system and reduces property tax collections by making it more likely that owners of furnished residential real property rented to others will, in some cases deliberately and in many other cases due to a lack of notice regarding state property tax laws, fail to pay property taxes due on personal property used to furnish the residential real property; and

(e)It is therefore necessary and appropriate to require…#

(e) It is therefore necessary and appropriate to require the owner of furnished residential real property or an agent of the owner who advertises the property for rent to provide identifying information regarding the property to the assessor of the county in which the property is located upon the request of the assessor made no more than twice during any year as specified in this section or as mutually agreed to by the assessor and the owner or agent pursuant to paragraph

(b) of subsection (2) of this section.

(2) (a) Upon the request of the assessor of any county or city and county made no more than twice during any year:

(I) A property owner who advertises for rent furnished residential real property that is located within the county or city and county shall provide to the assessor a list that identifies each property so advertised by address; and

(II) An agent who advertises for rent on behalf of a property owner furnished residential real property that is located within the county or city and county shall provide to the assessor a list that identifies each property so advertised by owner and address.

(b) An assessor and a property owner or agent may mutually agree that the owner or agent shall annually provide to the assessor by a specified date the information that an assessor may require to be provided pursuant to paragraph (a) of this subsection (2).

(3) For purposes of this section, agent means a real estate broker, as defined in section 12-10-201 (6)(a), a property management company, a lodging company, an internet website listing service, a print-based listing service, or any other person that either separately or as part of a package of services advertises furnished residential real property in the state for rent on behalf of the owner of the property in exchange for compensation.

name: advertiser_is_agent kind: derived entity: PropertyAdvertiser dtype: Judgment period: Year source: 39-5-108.5(3) metadata: proof: atoms: - path: versions[0].formula kind: definition source: corpus_citation_path: us-co/statute/39/39-5-108.5 versions: - effective_from: '2024-01-01' formula: >- advertiser_is_real_estate_broker or advertiser_is_property_management_company or advertiser_is_lodging_company or advertiser_is_internet_website_listing_service or advertiser_is_print_based_listing_service or advertiser_otherwise_advertises_furnished_residential_property_for_rent_for_compensation

name: owner_address_list_disclosure_complied kind: derived entity: PropertyAdvertiser dtype: Judgment period: Year source: 39-5-108.5(2)(a)(I) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us-co/statute/39/39-5-108.5 versions: - effective_from: '2024-01-01' formula: |- not ( advertiser_is_property_owner and advertiser_advertises_furnished_residential_property_for_rent and advertised_property_is_located_in_assessor_county and assessor_requested_information_no_more_than_twice_this_year ) or owner_provided_advertised_property_address_list

name: agent_owner_and_address_list_disclosure_complied kind: derived entity: PropertyAdvertiser dtype: Judgment period: Year source: 39-5-108.5(2)(a)(II) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us-co/statute/39/39-5-108.5 versions: - effective_from: '2024-01-01' formula: |- not ( advertiser_is_agent and advertiser_advertises_furnished_residential_property_for_rent and advertised_property_is_located_in_assessor_county and assessor_requested_information_no_more_than_twice_this_year ) or agent_provided_advertised_property_owner_and_address_list

name: annual_disclosure_agreement_complied kind: derived entity: PropertyAdvertiser dtype: Judgment period: Year source: 39-5-108.5(b) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us-co/statute/39/39-5-108.5 versions: - effective_from: '2024-01-01' formula: >- not assessor_and_advertiser_mutually_agreed_to_annual_information_provision or advertiser_provided_agreed_information_by_specified_date

- name: advertiser_is_agent kind: derived entity: PropertyAdvertiser dtype: Judgment period: Year source: 39-5-108.5(3) metadata: proof: atoms: - path: versions[0].formula kind: definition source: corpus_citation_path: us-co/statute/39/39-5-108.5 versions: - effective_from: '2024-01-01' formula: |- advertiser_is_real_estate_broker or advertiser_is_property_management_company or advertiser_is_lodging_company or advertiser_is_internet_website_listing_service or advertiser_is_print_based_listing_service or advertiser_otherwise_advertises_furnished_residential_property_for_rent_for_compensation

- name: owner_address_list_disclosure_complied kind: derived entity: PropertyAdvertiser dtype: Judgment period: Year source: 39-5-108.5(2)(a)(I) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us-co/statute/39/39-5-108.5 versions: - effective_from: '2024-01-01' formula: |- not ( advertiser_is_property_owner and advertiser_advertises_furnished_residential_property_for_rent and advertised_property_is_located_in_assessor_county and assessor_requested_information_no_more_than_twice_this_year ) or owner_provided_advertised_property_address_list

- name: agent_owner_and_address_list_disclosure_complied kind: derived entity: PropertyAdvertiser dtype: Judgment period: Year source: 39-5-108.5(2)(a)(II) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us-co/statute/39/39-5-108.5 versions: - effective_from: '2024-01-01' formula: |- not ( advertiser_is_agent and advertiser_advertises_furnished_residential_property_for_rent and advertised_property_is_located_in_assessor_county and assessor_requested_information_no_more_than_twice_this_year ) or agent_provided_advertised_property_owner_and_address_list

- name: annual_disclosure_agreement_complied kind: derived entity: PropertyAdvertiser dtype: Judgment period: Year source: 39-5-108.5(b) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us-co/statute/39/39-5-108.5 versions: - effective_from: '2024-01-01' formula: |- not assessor_and_advertiser_mutually_agreed_to_annual_information_provision or advertiser_provided_agreed_information_by_specified_date

Furnished residential real property rental advertisements - information to be provided to the assessor - legislative declaration

Furnished residential real property rental advertisements - information to be provided to the assessor - legislative declaration

(a)Each assessor is required by law to discover and assess…#

(b)Each owner of taxable personal property is required by…∀ 1#

(c)Personal property that is used to furnish residential…#

(d)In certain areas of the state, a high proportion of…#

(e)It is therefore necessary and appropriate to require…#

advertiser_is_agent

owner_address_list_disclosure_complied

agent_owner_and_address_list_disclosure_complied

annual_disclosure_agreement_complied