Vail Valley Partnership signs on to letter to the Governor includes signers from Chambers of Commerce across the state, major industry groups including Homebuilders, Realtors, Manufacturers, Restaurants, Health Clubs and many more
Northern Colorado: Business leaders held a Zoom press conference today to call on Governor Polis and the legislature to find a legislative fix for property tax deferral. They will be delivering a petition to the governor signed by individuals and organizations representing thousands of Colorado business owners.
“Short term liquidity is paramount to assuring the viability of businesses in the long term. The Governor’s Executive Order D 2020 dated March 20, 2020 provided local governments an important avenue for businesses to manage cash for critical expenses, but business needs predictability,” said Stephanie Fancher, owner of Loveland Ready Mix, a concrete supply company employing 85 employees in northern Colorado.
On March 25, 2020, the Weld County Board of Commissioners passed a resolution to defer property taxes and reduce the interest substantially.
“The Weld County Commissioners took initiative and passed a resolution calling for a significant reduction of the interest charged on late payment of property taxes effective until October 31, 2020, only to find out this is not truly a viable option under state statute. Their decision is something business owners across the state would like other counties and cities to explore because decisions at a local level move more quickly. Keeping cash flow available to pay employees and meet other requirements is essential for business to stay afloat,” stated Sherrill, of Landmark Homes, a company that builds homes along the Front Range.
The COVID-19 crisis has wreaked havoc on businesses of all sizes, and the economic impacts of the crisis are still not fully known. Businesses had planned their year without anticipating the catastrophic events that are unfolding.
“Through no fault of their own business people need to protect all their cash now. They need to work with their banks, property owners and employees and family to survive until they can go back to normal. Property tax deferral is one way for business owners to have the ability to affect their cash flow, and government to help our Colorado businesses, employees, and economy to survive and prosper in the future,” added Don Marostica, former State Representative and northern Colorado business owner.