Larimer County has joined Weld County in waiving interest charges on unpaid property taxes as long as those taxes are paid by Oct. 1.
The Colorado Legislature recently passed House Bill 1421 that grants county treasurers the authority to waive delinquent interest between June 15 and Oct. 1, 2020, for 2019 taxes payable in 2020. The new state law is similar to two previous executive orders issued by Gov. Jared Polis that waived interest through April. Waiving the interest has the effect of permitting businesses to spend tax money on day-to-day operations now and avoid paying interest or penalties as long as they paid the taxes later this year. Businesses attempting to reopen or stay open may have cash needs now and be able to commit money to taxes later.
Based on the legislation, Irene Josey, Larimer County treasurer, said she would take advantage of the new authority and waive delinquent interest for any taxpayer who still owes current year property taxes beginning on June 16, 2020. Taxpayers may submit payment until Sept. 30, 2020 without penalty of delinquent interest.
Boulder County, meanwhile, may take the same step but the county treasurer there, Paul Weissmann, said on the county website that he anticipates being able to waive interest payments on unpaid property taxes but is awaiting action by the board of commissioners. Broomfield County has also not taken action on the waivers.
In Larimer County, interest on delinquent property tax payments from prior years and redemption interest on property tax liens are excluded from the waiver.
Beginning Oct. 1, interest will accrue at the statute-mandated 1% per month. The Larimer County tax lien sale will remain scheduled for Nov. 19, 2020.
Josey asked those who are able to pay their property taxes before the waiver ends to do so because property taxes fund county departments, school districts, fire districts and others.
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