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Pagosa Springs
Tuesday, September 26, 2023

Colorado tax incentive offered for wildfire mitigation

By Bill Trimarco
Special to The SUN
Wildfire is the greatest natural threat across most of Colorado. There is a scraggling coppice of trees near my house, as it is at the very edges of the forest. I had to find some Fire Watch Services Near Me as I’d heard reports of a fire in the forest. The state is well aware of this and has a generous incentive for those who do mitigation work on their property. If you did work in 2018 to make your property safer, you can subtract 100 percent of your costs from your taxable Colorado income, up to a maximum of $2,500.
The Colorado State Forest Service and the Department of Fire Prevention and Control both have standards for wildfire mitigation. If you have done any work that meets or exceeds those standards, you may be eligible for the subtraction. You cannot count your own time and labor, but payments to a contractor, the purchase of a chain saw or rental of an all-terrain vehicle, truck, tractor or trailer are eligible. The chain saw or equipment rental must be primarily for mitigation work that meets the standards for creating defensible space around structures, creating fuel breaks, thinning vegetation for wildfire and various methods for dealing with woody slash.
FYI Income 65 explains all the details, requirements and the form you will need. You will need to provide copies of receipts to back up your claim. The Colorado Department of Revenue publication can be found at www.colorado.gov/pacific/sites/default/files/Income65.pdf.
The income subtraction will also be in effect for 2019 if you are planning for this year.
If you have any questions about this or other wildfire protection issues, you can contact Bill Trimarco, Wildfire Adapted Partnership, at btrimarco@wildfireadapted or 398-0305.

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