To: Board of County Commissioners
Through: Sue Sandstrom, Treasurer
Prepared By:
prepared
Monica Kovaci, Senior Assistant County Attorney
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Subject:
title
A resolution to cancel property taxes for parcels with incorrect ownership records
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Purpose and Request:
recommended action
The Assessor and Treasurer Offices request the cancellation of property taxes for nine parcels that have had incorrect ownership records, amounting to a total tax of $7,738.05. The parcels described in the attached exhibit involve property that is deemed "common elements" under the terms of applicable recorded condominium and other common interest community Declarations, ownership should be placed in the name of the respective HOAs, and therefore these parcels are to be deemed exempt from taxation.
The Board held a study session on the matter on March 29, 2021 and approved placing the item on consent agenda.
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Background and Discussion: When a new community is developed under the Colorado Common Interest Ownership Act, the developers often record community Declarations, which establish covenants, restrictions, and the parcels for the community and also specify any portions of real property that are to be "common elements" owned by the homeowner association for use by all property owners within the community. As the community is developed over time, the developers record various amendments to the Declarations further defining the various elements of the property as a whole. These Declarations are often lengthy and difficult to decipher and at times result in the Assessor records showing inaccurate ownership to parcels that should be classified as "common element" and titled in the name of the homeowners' association, and therefore be exempt from taxation.
Under the Colorado Common Interest Ownership Act, C.R.S. ?? 38-33.3-101, et seq., "A common interest community may be created pursuant to this article only by recording a declaration executed in the same manner...
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