Jack Tate
- Republican
Property tax in Colorado is generally equal to the actual value of property multiplied by an assessment rate, and the resulting assessed value is multiplied by each applicable local government's mill levy. The assessment rate for residential real property is established by the general assembly in accordance with a provision of the state constitution that is commonly known as the "Gallagher Amendment" and is limited by section 20 of article X of the state constitution (TABOR). Under the Gallagher Amendment, there are 2 relevant classes of property for the purposes of determining the residential assessment rate: residential property and nonresidential property. The assessment rate for most nonresidential property is fixed in the state constitution at 29%. The residential assessment rate was initially set at 21%, but the rate has been adjusted prior to each 2-year reassessment cycle to keep the percentage of aggregate statewide assessed value attributable to residential property the same as it was in the year immediately preceding the new reassessment cycle. Currently, the residential assessment rate is 7.15%. The concurrent resolution repeals the Gallagher Amendment so that the general assembly will no longer be required to establish the residential assessment rate based on the formula expressed in the Gallagher Amendment. The resolution also repeals the reference to the residential rate of 21%, which last applied in 1986 prior to the first adjustment required by the Gallagher Amendment. Finally, the resolution repeals the 29% assessment rate that applies for all nonresidential property, excluding producing mines and lands or leaseholds producing oil or gas. (Note: This summary applies to this concurrent resolution as adopted.)
Signed by the President of the Senate
Signed by the Speaker of the House
House Third Reading Passed with Amendments - Floor
House Second Reading Special Order - Passed with Amendments - Committee
House Committee on Appropriations Refer Unamended to House Committee of the Whole
Senate Third Reading Passed - No Amendments
Senate Third Reading Reconsidered - No Amendments
Senate Third Reading Passed - No Amendments
Senate Second Reading Passed - No Amendments
Senate Second Reading Laid Over Daily - No Amendments
Senate Second Reading Laid Over Daily - No Amendments
Senate Second Reading Laid Over Daily - No Amendments
Senate Committee on Finance Refer Unamended - Consent Calendar to Senate Committee of the Whole
Bill Text Versions | Format |
---|---|
Signed Act (06/23/2020) | |
Final Act (06/23/2020) | |
Rerevised (06/12/2020) | |
Revised (06/11/2020) | |
Reengrossed (06/09/2020) | |
Engrossed (06/08/2020) | |
Introduced (06/01/2020) | |
Committee Amendment |
Document | Format |
---|---|
Fiscal Note SA1 (06/10/2020) | |
Fiscal Note FN1 (06/01/2020) | |
Fiscal Note FN2 (08/31/2020) |
Data on Open States is updated periodically throughout the day from the official website of the Colorado General Assembly.
If you notice any inconsistencies with these official sources, feel free to file an issue.