Wildfire mitigation pays off, in more ways than you know. Not only does wildfire mitigation help save your property when it’s threatened by wildfire but you can also reduce your taxes up to $2500 for some or all of the amount you spend. Now that’s a good deal!
According to the Colorado Department of Revenue, you can subtract up to $2500 from your tax bill for the cost of wildfire mitigation. Of course, with any tax rule, there are stipulations. For example, you have to own the property, it has to be in a wildland-urban interface area, and you have to be performing wildfire mitigation activities. Things like clearing debris and vegetation, chipping or other secondary methods to remove woody growth, and creating defensible space around property are all qualifying activities.
Read this Wildfire Mitigation Subtraction Paper by the Colorado Department of Revenue for more information or, of course, talk to your tax professional and find out if you can reduce your taxes for wildfire mitigation.
Summit County offers a free chipping program to residents. Pull slash from your property and have it chipped for free. No need to be reimbursed on your taxes when there is no cost involved.
Now there is really no reason not to do wildfire mitigation around your property.
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