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Protect Your Property With a Year-End Tax Deduction

Even though our area did not experience many wildfire threats during 2015, taking measures to mitigate this risk around your home or property always make sense.
Since 2008, the State of Colorado has provided an income tax deduction to property owners for undertaking this type of work.  The deduction is available each year through 2024 and is the lesser of 1) $2,500, 2) owner's taxable income for the year, or 3) 50% of the owner's out-of-pocket expenses.

The types of costs that qualify include:
  • Creating or maintaining a defensible space around structures
  • Establishing fuel breaks
  • Thinning of woody vegetation to reduce risk to structures
  • Chipping, removing or prescribed burning of woody fuels
To qualify, the property must be located in Colorado and within a Wildland-Urban Interface Area.  Many areas along the Front Range, particularly the foothills and mountains will qualify.  Contact your local fire department or fire protection district to make sure.
 
Be sure to keep receipts as the Department of Revenue may request copies along with proof of property ownership.


Contact Us

Loveland

(970) 667-1070
762 W Eisenhower Blvd
Loveland, Colorado 80537

Estes Park

(970) 667-1070
1212 Graves Avenue
Estes Park, Colorado 80517

Katy

(281) 665-7973
21398 Provincial Blvd
Katy, Texas 77450