Nonprofit groups that have long been paying millions of dollars a year in Denver taxes on things such as purchases, hotel stays and even their employees soon will get some relief.
The City Council on Monday night approved an exemption that will bring the city into line with tax exemptions offered to nonprofits by the state and federal governments.
After a three-year phase-in, Denver’s city budget will take a small hit — estimated at $11.8 million to $14.2 million a year, or about 1 percent of the city’s general-fund revenue. That is according to a range of estimates provided by the Denver Department of Finance.
But for the estimated 2,000 or so eligible nonprofit groups that stand to benefit, the new tax exemption in Denver will make more cash available for their programs.
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