C.R.S. § 39-3-118.5

(1) For property tax years commencing on and after January 1, 1996, business personal property shall be exempt from the levy and collection of property tax until such business personal property is first used in the business after acquisition. (2) For the property tax year commencing on January 1, 2021, any county, municipality, or special district may exempt from its levy and collection of property tax up to one hundred percent of any business personal property.