colorado hotels
Impact of Gallagher Amendment Repeal on Property Taxes for Colorado Hotels/Motels
Bethany Cronk | June 24, 2021
By Bethany Cronk Introduction Local government authorities use property tax revenues to fund services including police and fire protection, hospitals, transportation, and schools for municipalities. For tax purposes, property is considered residential or nonresidential, with nonresidential property constituting commercial businesses, farms, ranches, and oil/gas operations. In 1982, the Gallagher Amendment was implemented in Colorado to hold the proportion of taxable value derived from residential property at approximately 45%. According to the Legislative Council of the Colorado General Assembly, “Gallagher sought to protect homeow...
Are Colorado Ski-Resort Hotels Posed for a Rebound?
Brett E. Russell | January 3, 2019
By Brett E. Russell Owning and operating a hotel always has some degree of risk. However, for hotels located in ski-resort regions, this risk continues to be amplified. Risk factors include continued growth of the online home-sharing industry (Airbnb, VRBO, etc.) introducing new supply from non-hotel assets, as well as the seasonal nature of these mountain communities. Another factor that can greatly affect the performance of a ski resort-dependent hotel is weather. The initial snow totals at the beginning of a ski season (November through January) can have a profound impact on the total season's bookings at hotels. The 2017/18 ski seas...
