The Denver Department of Finance is waiving late interest on property tax installment payments, effective immediately, through April 20.
As instructed by Mayor Michael Hancock, the finance department will apply the waiver to installment payments that were late as of March 20. Any property owners who paid the late interest on or after that date will be fully reimbursed, the city said in Thursday a news release.
The move is in line with the executive order issued last week by Gov. Jared Polis, which provides local jurisdictions more flexibility around property taxes.
“We know all too well the impact COVID-19 is having on our families and businesses, so I am taking full advantage of this opportunity to provide a little more relief for them during this time,” Mayor Michael Hancock said in a statement. “The city is committed to working with our partners to continue to support our community and prepare for our recovery from this public health emergency.”
Colorado property owners have two options to pay their property taxes: either in full by April 30, or in two installments, the first of which was due at the end of February and the second half is due in mid-June.
Polis’ executive order applies only to property owners who are paying property taxes in two installments.
In Denver, 65% of property tax revenues fund Denver Public Schools. Property tax revenues also go toward other entities, including providers of social services for people with certain disabilities.