Results for Proposed Initiative #296

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 $670 million in property tax revenue by a change to the Colorado Revised Statutes concerning reductions in property taxes, and, in connection therewith, reducing the assessment rate for certain nonresidential property by 1% per year for five years until the assessment rate is reduced from 29% to 24% of the property value, which assessment rate applies for every subsequent property tax year; and reducing the assessment rate for residential property by 0.37% per year for five years until the assessment rate is reduced from 7.15% to 5.3% of the property value, which assessment rate applies for every subsequent property tax year.

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 be impacted by a reduction of $670 million in property tax revenue by a change to the Colorado Revised Statutes concerning reductions in property taxes, and, in connection therewith, reducing the assessment rate for certain nonresidential property by 1% per year for five years until the assessment rate is reduced from 29% to 24% of the property value, which assessment rate applies for every subsequent property tax year; and reducing the assessment rate for residential property by 0.37% per year for five years until the assessment rate is reduced from 7.15% to 5.3% of the property value, which assessment rate applies for every subsequent property tax year?

Hearing April 18, 2024

Single subject approved; staff draft amended; titles set.
Board members: Theresa Conley, Christy Chase, Kurt Morrison
Hearing adjourned 8:12 PM.

Rehearing April 26, 2024

Motion for rehearing (Wasserman, Terry) was granted only to the extent the Board made changes to the title (3-0).
Board members: Theresa Conley, Christy Chase, Kurt Morrison
Hearing adjourned 11:43 AM.

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