COLORADO WORKS BETTER™ Taxpayer Shareholder Portal Follow

Who runs this

Works Better Corporation, a nonpartisan public benefit corporation, builds this site.

Independent public-records project, separate from the State of Colorado and from every party and campaign.

Every number carries one of four labels (FACT, CALC, SAMPLE or PENDING) and a source you can open.

Residential Storage Condo Unit As Real Property

Concerning the inclusion of a residential storage condominium unit in the definition of a residential improvement for purposes of the property tax.

HB16-1132 2016 Regular Session Not stated Fiscal Policy & Taxes Local Government

Cost estimates

At the first note read
Stated in words
FACT February 1, 2016
At the last note read
Stated in words
FACT May 23, 2016
What it actually cost
not published
No Colorado source reports spending for one bill

Every figure here is an estimate by Legislative Council Staff on the date shown, about the version of the bill in front of them that day. It is not a cost.

The appropriation

The note states no appropriation is required.

An appropriation is money the legislature sets aside. It is not money spent.

The appropriation field, read from the note: None.

Bill summary

The bill establishes that a residential storage condominium unit is a residential improvement. This allows the unit to be assessed as residential real property, which currently has an assessment ratio of 7.96%, instead of as nonresidential property, which has an assessment ratio of 29%.

A residential storage condominium unit is defined to mean a building or portion thereof that is:

  • A unit under the 'Colorado Common Interest Ownership Act';
  • More than 400 square feet, unless the unit is in the same common interest community as the residence;
  • Used by its owner to store items from or related to the owner's Colorado residence; and
  • Not used for storage related to a business.

For a building unit to qualify as a residential storage condominium unit, the owner of the building unit must annually submit an affidavit of intended use and ownership documentation. The property tax administrator is required to establish the form of the affidavit and to prepare and publish standards for assessors to determine whether a building unit qualifies as a residential storage condominium unit. The bill establishes penalties for a person that knowingly provides false information on the affidavit.

An assessor may inspect a building unit to confirm that it qualifies as a residential storage condominium unit, and an owner is required to grant the assessor reasonable access to the building unit for the inspection.

FACT Bill summary by Colorado Legislative Council Staff, read 2026-09-23. Printed as published, word for word. Source: leg.colorado.gov (opens in a new tab)