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Tax Rate Information to Real Property Owners

Concerning information to real property owners regarding property taxes, and, in connection therewith, making an appropriation.
2024 Regular Session
Fiscal Policy & Taxes
Bill Summary

Section 1 of the bill requires towns, cities, school districts, special districts, and other taxing authorities to submit, with their annual certification of levies, the following information for each levy that the taxing authority imposes :

  • The rate of each levy that it imposes ;
  • Any adjustments from the prior year's levies The prior year levy and revenue collected from the levy ;
  • Whether the levy is fixed or floating The maximum levy that may be levied without further voter approval ;
  • The applicable statutory or constitutional limits on annual levy or revenue increases, and whether the taxing authority is exempt from or has waived these statutory or constitutional limits allowable annual growth in revenue collected from the levy ;
  • The actual growth in revenue collected from the levy over the prior year;
  • Whether revenue from the levy is allowed to be retained and spent as a voter-approved revenue change pursuant to section 20 (7)(b) of article X of the state constitution;
  • Whether revenue from the levy is subject to a specified statutory limit on annual revenue growth;
  • Whether revenue from the levy is subject to any other limit on annual revenue growth enacted by the taxing authority or other local government;
  • The annual rate of growth of the levy Whether the levy must be adjusted, or whether a mill levy credit must be allowed, to collect a certain amount of revenue for the tax year and, if applicable, that amount of revenue ; and
  • The mechanism for determining the annual rate of growth of the levy Any other information determined necessary by the department of local affairs .

The board of county commissioners or other body authorized by law to levy taxes must provide this information, along with the identity of the entity that fixes each levy rate, with its annual certification of levies. The Counties, in coordination with the property tax administrator, are required to ensure that this information is publicly available. Section 2 removes the requirement that an annual notice of valuation sent to a property owner by a county assessor contain an estimate or an estimated range of the taxes owed for the current property tax year. For the 2024-25 state fiscal year, $50,296 is appropriated from the general fund to the department of local affairs for use by the division of local government, of which $27,198 is reappropriated to the office of the governor for use by the office of information technology to provide information technology services for the department of local affairs.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)




Bill Text

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The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details