Ballot Title Setting Board
2021-2022

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 $1.2 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 real property for purposes of property taxation, and, in connection therewith, setting the actual value of real property for the next property tax year at the valuation for the 2021 property tax year or the most recent sale amount; thereafter, establishing the actual value to be equal to the prior year’s value adjusted for inflation up to 3%; establishing this adjusted value as a limit on the actual value; resetting the actual value of the property when it is sold; requiring the property to be reappraised if it is substantially improved, as defined, suffers a decline in value, or is in a county that has suffered a sustained economic downturn; authorizing the department of local affairs to issue rules on portability of real property value; defining a recent sale to include a transfer of less than full ownership of real property and a transfer upon the death of the property owner to anyone other than a spouse; and requiring the provisions of this measure to expire on December 31, 2032.

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 $1.2 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 real property for purposes of property taxation, and, in connection therewith, setting the actual value of real property for the next property tax year at the valuation for the 2021 property tax year or the most recent sale amount; thereafter, establishing the actual value to be equal to the prior year’s value adjusted for inflation up to 3%; establishing this adjusted value as a limit on the actual value; resetting the actual value of the property when it is sold; requiring the property to be reappraised if it is substantially improved, as defined, suffers a decline in value, or is in a county that has suffered a sustained economic downturn; authorizing the department of local affairs to issue rules on portability of real property value; defining a recent sale to include a transfer of less than full ownership of real property and a transfer upon the death of the property owner to anyone other than a spouse; and requiring the provisions of this measure to expire on December 31, 2032?

Hearing April 22, 2022

Single subject approved; staff draft amended; titles set.
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, Ed DeCecco, Kurt Morrison
Hearing adjourned 11:23 PM.

Rehearing April 28, 2022

Motion for Rehearing (Movants) granted only to the extent that the Board made changes to the titles.
Motion for Rehearing (Proponent) denied.
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, Ed DeCecco, Kurt Morrison
Hearing adjourned: 6:51 PM.

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