Colorado HB1209 proposes a temporary decrease in statutory property tax revenue limits for certain taxing entities.

Colorado HB1209 proposes a temporary decrease in statutory property tax revenue limits for taxing entities, excluding school districts and home rule municipalities, for property tax years beginning on or after January 1, 2027, but before January 1, 2033. The bill reduces the growth rate percentage to 4% for these years, down from the usual 5.5%. This temporary decrease aims to adjust the annual amount of property tax revenue that local governments and special districts may collect, allowing them to raise more revenue temporarily.

Colorado HB1209 proposes a temporary decrease in statutory property tax revenue limits for certain taxing entities.

Colorado HB1209 proposes a temporary decrease in statutory property tax revenue limits for taxing entities, excluding school districts and home rule municipalities, for property tax years beginning on or after January 1, 2027, but before January 1, 2033. The bill reduces the growth rate percentage to 4% for these years, down from the usual 5.5%. This temporary decrease aims to adjust the annual amount of property tax revenue that local governments and special districts may collect, allowing them to raise more revenue temporarily.