Ballot Title Setting Board
2023-2024

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

Funding available for counties, school districts, water districts, and other districts funded, at least in part, by property taxes shall be impacted by a reduction of $3 billion in property tax revenue by a change to the Colorado Revised Statutes concerning a reduction of the valuation for assessment of certain real property for property tax years commencing on or after January 1, 2025, and, in connection therewith, reducing the valuation for tax assessment for property other than residential real property, producing mines, and oil and gas lands to 24% of the property's actual value; reducing the valuation for tax assessment for residential real property to 5.7% of the property's actual value; requiring the state to reimburse local districts for revenue lost as a result of these changes; and requiring the state to maintain current funding for the state education fund.

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

Shall funding available for counties, school districts, water districts, and other districts funded, at least in part, by property taxes shall be impacted by a reduction of $3 billion in property tax revenue by a change to the Colorado Revised Statutes concerning a reduction of the valuation for assessment of certain real property for property tax years commencing on or after January 1, 2025, and, in connection therewith, reducing the valuation for tax assessment for property other than residential real property, producing mines, and oil and gas lands to 24% of the property's actual value; reducing the valuation for tax assessment for residential real property to 5.7% of the property's actual value; requiring the state to reimburse local districts for revenue lost as a result of these changes; and requiring the state to maintain current funding for the state education fund?

Hearing January 17, 2024

Single subject approved; staff draft amended; titles set.
Board members: Theresa Conley, Kurt Morrison, Christie Chase
Hearing adjourned 3:08 PM.

* Unofficially captioned "Valuation for Assessments" by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.