SB 25-259
Fiscal Note
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
SB 25-259: ELIMINATE DESTROYED PROP TAX REIMBURSEMENT PROG
Prime Sponsors:
Sen. Bridges; Kirkmeyer
Rep. Bird; Taggart
Published for: Senate Appropriations
Drafting number: LLS 25-0881
Fiscal Analyst:
Anna Gerstle, 303-866-4375
anna.gerstle@coleg.gov
Version: Initial Fiscal Note
Date: March 31, 2025
Fiscal note status: This fiscal note reflects the introduced bill, which was recommended by the Joint
Budget Committee as part of the FY 2025-26 Long Bill budget package.
Summary Information
Overview. The bill repeals the property tax reimbursement program for properties destroyed by natural
cause.
Types of impacts. The bill is projected to affect the following areas on an ongoing basis:
State Expenditures
Appropriations. No appropriation is required. It is assumed that the required reduction in appropriations
will be included in a Long Bill supplemental for FY 2024-25 and in the Long Bill for FY 2025-26.
Table 1
State Fiscal Impacts
Type of Impact
Current Year
FY 2024-25
Budget Year
FY 2025-26
Out Year
FY 2026-27
State Revenue $0 $0 $0
State Expenditures (General Fund) -$500,000 -$1,000,000 -$1,000,000
Transferred Funds $0 $0 $0
Change in TABOR Refunds $0 $0 $0
Change in State FTE 0.0 FTE 0.0 FTE 0.0 FTE
Page 2
March 31, 2025 SB 25-259
Summary of Legislation
Under current law, a property owner may be reimbursed by the state for property tax owed on
property destroyed by natural causes. The bill repeals the reimbursement program beginning in
the 2025 property tax year.
Background
House Bill 14-1001 created the Property Tax Reimbursement of Property Destroyed by Natural
Causes program in the Department of Treasury. Since its inception, 16 counties have utilized the
program, with total expenditures ranging from $2,019 in FY 2016-17 to $3.8 million in
FY 2021-22 when Boulder County utilized the program after the Marshall Fire.
State Expenditures
By repealing the program, the bill reduces state General Fund expenditures in the Department of
Treasury by $500,000 in FY 2024-25 and $1.0 million annually beginning in FY 2025-26.
Repealing the program will eliminate reimbursements to property owners for property taxes
paid on properties destroyed by natural causes. Actual savings may vary depending in future
years depending on the number of properties destroyed in natural disasters.
Effective Date
The bill takes effect upon signature of the Governor, or upon becoming law without his
signature.
State Appropriations
The bill decreases required General Fund appropriations to the Department of Treasury by
$500,000 in FY 2024-25 and $1.0 million in FY 2025-26. It is assumed that these reductions will
be made in a Long Bill supplemental for FY 2024-25 and in the Long Bill for FY 2025-26, rather
than this bill.
State and Local Government Contacts
Joint Budget Committee Staff Treasury
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit the General Assembly website.