Wildfire & Taxes

Two things that most of us don’t want to think about. But did you know that the wildfire mitigation, and home hardening work you do to your property, can be deducted from your taxes?

Here is the breakdown:

Individuals, estates and trusts may claim a subtraction on their Colorado income tax return for certain costs incurred in performing wildfire mitigation measures on their property in a wildland-urban interface area within Colorado. The subtraction is equal to either 50% or 100% (depending on the tax year) of the qualifying costs for performing wildfire mitigation measures. The total subtraction a taxpayer can claim per tax year is limited to $2,500.

Want to know more? Check out this link to find out how your hard work not only makes you more resilient to wildfire but can help you out on Tax Day.

Wildfire Mitigation Measures Subtraction