Effective January 1, 2016 in accordance with Senate Bill 2016-115, the e-recording technology fund fee will increase to $3.00 for each recorded document (C.R.S. 30-10-421) for a period of five years. This will bring the fees to $13.00 for the first page and $5.00 for each additional page on every recorded document. One dollar of the fee will be retained by...
Amendment 69 is a $25 billion dollar tax - a double tax on your livelihood. Small business owners and LLC's will pay both sides of the proposed tax for a total of a 10% tax increase. Business owners will also pay the full 10% on all profits, even if those dollars are not withdrawn from the business. There is no...
With active wildfires burning across the state, Colorado REALTORS® are expanding their efforts to educate homeowners about the dangers of wildfires, especially to those living in Wildland-Urban Interface (WUI) areas, through a program designed to help connect homeowners willing to mitigate their properties and reduce wildfire risks with information and resources in their local communities. The Colorado Project Wildfire website...
Due to the overwhelming response from REALTORS® in Colorado and across the country contacting their Senators, we are excited to report that H.R. 3700 passed the U.S. Senate on July 14, 2016! Once again the voices of REALTORS® were heard loud and clear on Capitol Hill and last night we scored a big win! Thanks to you, and more than 139,000 REALTORS®...
CAR’s First-time Homebuyer Savings Act Tax Deduction, recently signed into law by Governor Hickenlooper on June 10th, is garnering nationwide attention as Congressman Coffman introduced a federal version of this bill on Friday. CAR championed legislation creates first-time homebuyer savings accounts which allows a tax deduction for account holders on the interest earned on these accounts. A First-time Homebuyer Savings Account...
Colorado REALTOR®, The Colorado Real Estate Commission and the Colorado Division of Real Estate are undergoing a review mandated in Colorado law. A primary purpose of the review is to determine if the licensing of real estate brokers is necessary to protect public health, safety, and welfare. In conjunction with the analysis, DORA has launched a licensee survey asking those individuals...
H.R. 3700 was passed by the U.S. House 427-0. Despite passing with NO OBJECTIONS, the U.S. Senate has not acted on H.R. 3700. This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by: Removing a burdensome and expensive FHA Condo approval process Reducing FHA restrictions on the number of condos available to homebuyers Permanently streamlining Rural Housing Service loan processing More...
Sine Die! Wednesday, May 11th, the final gavel came down on the second session of the 70th General Assembly. In total, 789 bills were introduced. CAR tracked 65 bills this year and took a position on 37 of them. A split Legislature this year with Republicans controlling the Senate and Democrats controlling the House meant every bill sent to the Governor...
CAR is very pleased to announce that the First Time Homebuyer Savings Account Act passed the Legislature Tuesday morning after the State Senate gave the bill it’s final approval. CAR extends its deepest gratitude to House Majority Leader Crisanta Duran, Representative Joe Salazar, Senate Majority Leader Mark Scheffel and Senator Beth Martinez-Humenik for their sponsorship of HB-1467, and for their...
Senate Concurrent Resolution 004: Real Estate Transfer Tax For Affordable Housing. We are happy to report that SCR16-004, Real Estate Transfer Tax for Affordable Housing sponsored by Senator Ulibarri (D-Commerce City) died in committee on April 20th. The LPC opposed this bill and CAR gave testimony against the legislation in the Senate State, Veterans, & Military Affairs committee hearing. This concurrent...