§ 53-541. Credit against personal property taxes.

Each qualifying taxpayer is entitled to enter into an agreement with the City and County of Denver for an incentive tax credit in the amount of the general fund portion of the taxes upon the taxpayer's taxable personal property assessed by the City and County of Denver upon the taxable personal property located at or within a new business facility, or directly attributable to an expanded business facility and located at or within the expanded facility, and used in connection with the operation of the new or expanded facility. The term of the agreement made pursuant to the provisions of this section shall not exceed four (4) years. The credit will be applied against only the general fund portion of the subject taxes, and will not be applied against taxes that are specifically pledged for other purposes. The credit is not available with respect to personal property whose value is determined by the State of Colorado.

(Ord. No. 426-12, § 3, 8-20-12, elec. 11-6-12)