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DENVER, CO – The Agriculture, Water & Natural Resources Committee today passed legislation sponsored by Speaker Julie McCluskie and Representative Karen McCormick to save small farmers and ranchers money on their property taxes.
“Family farmers and smaller ranchers in my district have shaped Colorado’s agriculture economy and boosted rural communities for generations,” said Speaker Julie McCluskie, D-Dillon. “The Trump Administration’s tariffs, imported Argentinian beef, and trade wars are driving up costs for our farmers and ranchers at a time when profit margins are razor-thin, and this bill puts more money back into the pockets of the hardworking people who keep Coloradans fed. This bill extends the property tax exemptions for smaller operations that use their land for pasture-based grazing.”
“With trade wars hurting our ag community, we’re stepping up to save our farmers and ranchers money,” said Rep. Karen McCormick, D-Longmont. “Our bill puts our local farmers and ranchers first by lowering property taxes for smaller operations that use their land for grazing. Family farms strengthen and diversify Colorado’s economy, and this bill helps save our hardworking farmers and ranchers money.”
SB26-010 passed committee by a vote of 12-0. This bill would save Colorado farmers and ranchers money on their property taxes by broadening the definition of "ranch" and “farm” in statute. First unanimously approved by the Water Resources and Agriculture Review Committee, this bill would modify the definitions used to classify land as agricultural for property tax purposes. Under this bill, the new definition would allow small and family-owned ranches and farms to benefit from existing property tax exemptions.
It would also specify that a farm is primarily used to produce agricultural products, while a ranch is primarily used for grazing livestock through pasture-based operations. Agricultural land is generally valued lower than other property classifications, and this bill only expands the property tax benefits to producers.
The Trump Administration’s tariffs have driven up costs for Colorado’s businesses, farmers, ranchers, and consumers and limited the available international markets for producers to sell their products. An announcement from the Trump Administration last year to quadruple the amount of beef the U.S. imports from Argentina drastically undermined Colorado beef producers during peak season.