Ballot Title Setting Board
2021-2022

The title as designated and fixed by the Board is as follows:

A change to the Colorado Revised Statutes concerning funding to increase affordable housing, and, in connection therewith, establishing an annual fee upon an owner of residential real property, that is equal to 1.1% of the appraised actual value of the real property that exceeds $2 million, adjusted for inflation; requiring the fee revenue to be deposited in the Colorado affordable housing fund; allowing the state to transfer additional revenue to the fund; providing that any additional transferred amount may be from revenue the state is otherwise required to refund to taxpayers; and requiring the revenue in the fund to be allocated to local governments to address affordable housing shortages in the state.

The ballot title and submission clause as designated and fixed by the Board is as follows:

Shall there be a change to the Colorado Revised Statutes concerning funding to increase affordable housing, and, in connection therewith, establishing an annual fee upon an owner of residential real property, that is equal to 1.1% of the appraised actual value of the real property that exceeds $2 million, adjusted for inflation; requiring the fee revenue to be deposited in the Colorado affordable housing fund; allowing the state to transfer additional revenue to the fund; providing that any additional transferred amount may be from revenue the state is otherwise required to refund to taxpayers; and requiring the revenue in the fund to be allocated to local governments to address affordable housing shortages in the state?

Hearing April 21, 2022

Single subject approved (2-1, DeCecco dissented); staff draft amended; title set.
Board members: Theresa Conley, Ed DeCecco, Kurt Morrison
Hearing adjourned: 7:49 PM.

* Unofficially captioned "New Fee Assessment on Luxury Residential Real Property" by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.