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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionCity and County of Denver
Jurisdiction type: City/County
Fiscal year ending In2020
Program nameBusiness Incentive Agreements
Program purpose: Business attraction/retention/expansion
Statutory authority: Sections 30-11-123 and 31-15-903, CRS, and Chapter 53, Article XVI, DRMC
Abating jurisdiction(s): The City and County of Denver
Applicable taxesPersonal Property Tax
Method of abatement: Tax Credit
Provisions for recapture: Yes
Gross revenue loss: $291,000
Reimbursement / offset: $0
Net revenue loss: $291,000
Type of loss: Active
Additional notes on dislosureIf at any time after the City grants an incentive tax credit, the City, in its sole discretion determines that Taxpayer did not meet all requirements of sections 30-11-123 and 31-15-903, CRS, Chapter 53, Article XVI, DRMC or other incentive tax credit requirements of the City under section 53-544, DRMC in the tax year for which a credit was granted, Taxpayer agrees that City may issue to Taxpayer a Special Notice of Valuation, and assess and collect from Taxpayer, in the manner provided for in the Colorado Revised Statutes, taxes in the amount of the incentive tax credit for the subject tax year.
Document sourcehttps://www.denvergov.org/Government/Agencies-Departments-Offices/Agenci...