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, fire 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 reductions in assessment rates for valuation of certain taxable property, and, in connection therewith, reducing the assessment rate for certain nonresidential real and personal property to 25.5% of the property value; reducing the assessment rate for residential real property to 5.7% of the property value after subtracting the lesser of $55,000 or the amount that causes the property valuation to be $1,000; and beginning June 30, 2025, prohibiting the reduction in funding that school districts receive under the "Public School Finance Act of 1994" due to the reduction in assessment rates.

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, fire 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 reductions in assessment rates for valuation of certain taxable property, and, in connection therewith, reducing the assessment rate for certain nonresidential real and personal property to 25.5% of the property value; reducing the assessment rate for residential real property to 5.7% of the property value after subtracting the lesser of $55,000 or the amount that causes the property valuation to be $1,000; and beginning June 30, 2025, prohibiting the reduction in funding that school districts receive under the "Public School Finance Act of 1994" due to the reduction in assessment rates?

Hearing April 3, 2024

Single subject approved; staff draft amended; titles set.
The Board made a technical correction to the text of the initiative.
Board members: Theresa Conley, Christy Chase, Kurt Morrison
Hearing adjourned 10:07 AM.

Rehearing April 18, 2024

Motion for rehearing (Movant) granted in its entirety. The Board lacks jurisdiction to set title because the measure has multiple subjects (3-0).
Board members: Theresa Conley, Christy Chase, Kurt Morrison
Hearing adjourned: 9:20 PM.

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