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 $843,000,000 in property tax revenue by a change to the Colorado Revised Statutes concerning a reduction in property taxes, and, in connection therewith, beginning with the 2024 property tax year, reducing the assessment rate to 26% for lodging property, after a reduction has been applied, to 26% for agricultural property or renewable energy production property and other nonresidential property valued less than $3 million, and to 6.5% for multi-family residential property and to single-family residential property that is valued at $2 million or less or that is owner-occupied; and, beginning in fiscal year 2024-25, allowing the state to annually retain and spend excess state revenue, if any, as a voter-approved revenue change to be used to offset reduced funding for school districts and for local governments that provide fire protection or water conservation services.

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 $843,000,000 in property tax revenue by a change to the Colorado Revised Statutes concerning a reduction in property taxes, and, in connection therewith, beginning with the 2024 property tax year, reducing the assessment rate to 26% for lodging property, after a reduction has been applied, to 26% for agricultural property or renewable energy production property and other nonresidential property valued less than $3 million, and to 6.5% for multi-family residential property and to single-family residential property that is valued at $2 million or less or that is owner-occupied; and, beginning in fiscal year 2024-25, allowing the state to annually retain and spend excess state revenue, if any, as a voter-approved revenue change to be used to offset reduced funding for school districts and for local governments that provide fire protection or water conservation services?

Hearing April 19, 2023

Single subject approved; staff draft amended; titles set.
Board members: Theresa Conley, Ed DeCecco, Eric Meyer
Hearing adjourned 2:39 PM.

* Unofficially captioned "Reduction in Assessment Rates for Certain Properties" by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.