Business personal property tax archaic barrier

For the first time ever, Colorado business taxpayers are receiving some tax relief for the onerous business personal property tax that they pay to local governments.

The passage of HB 1311 by the Colorado General Assembly and Gov. Bill Owens’ signing of the bill is a long overdue recognition that the business personal property tax (BPPT) is a severe drag on the economic engine of our state.

HB 1311 will provide up to $100 million in refunds this year to businesses from the TABOR surplus. The deadline for firms to apply for the refunds was Aug. 31. HB 1311, however, only represents…