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 $2.3 billion in property tax revenue by an amendment to the Colorado constitution and a change to the Colorado Revised Statutes concerning the actual value of certain real property for purposes of property taxation, and, in connection therewith, setting the actual value of real property at the 2021 property tax valuation amount or the amount of the property's most recent sale that occurred on or after June 30, 2020; limiting the annual increase in a property's actual value to inflation capped at 2.5%; and allowing a property to be reappraised if it is substantially improved or suffered a decline in value.

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 $2.3 billion in property tax revenue by an amendment to the Colorado constitution and a change to the Colorado Revised Statutes concerning the actual value of certain real property for purposes of property taxation, and, in connection therewith, setting the actual value of real property at the 2021 property tax valuation amount or the amount of the property's most recent sale that occurred on or after June 30, 2020; limiting the annual increase in a property's actual value to inflation capped at 2.5%; and allowing a property to be reappraised if it is substantially improved or suffered a decline in value?

Hearing December 20, 2023

Single subject approved; staff draft amended; titles set.
The Board made a technical correction to the text of the initiative.
The Board determined that the proposed initiative requires the addition of language to the Colorado Constitution; a 55% vote is required to pass.
Board members: Theresa Conley, Christy Chase, Kurt Morrison
Hearing adjourned 11:37 AM.

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