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SENATE CONCURRENT RESOLUTION 20-001

BY SENATOR(S) Tate and Hansen, Rankin, Bridges, Crowder, Danielson,

Donovan, Fenberg, Fields, Gonzales, Lee, Moreno, Story, Todd,

Williams A., Winter;

also REPRESENTATIVE(S) Esgar and Soper, Rich, Arndt, Bird,

Buentello, Caraveo, Cutter, Exum, Gray, Herod, Jaquez Lewis, Kennedy,

Kipp, Landgraf, Lontine, McCluskie, McLachlan, Michaelson Jenet,

Mullica, Roberts, Snyder, Tipper, Titone, Valdez A., Valdez D., Young.

UBMITTING TO THE REGISTERED ELECTORS OF THE STATE OF COLORADO AN

AMENDMENT TO THE

COLORADO CONSTITUTION TO REPEAL THE

REQUIREMENT THAT THE GENERAL ASSEMBLY PERIODICALLY CHANGE

THE RESIDENTIAL ASSESSMENT RATE IN ORDER TO MAINTAIN THE

STATEWIDE PROPORTION OF RESIDENTIAL PROPERTY AS COMPARED

TO ALL OTHER TAXABLE PROPERTY VALUED FOR PROPERTY TAX

PURPOSES AND REPEAL THE NONRESIDENTIAL PROPERTY TAX

ASSESSMENT RATE OF TWENTY

-NINE PERCENT.

Be It Resolved by the Senate of the Seventy-second General Assembly of the

State of Colorado, the House of Representatives concurring herein:

SECTION 1. At the election held on November 3, 2020, the

secretary of state shall submit to the registered electors of the state the ballot

NOTE: This bill has been prepared for the signatures of the appropriate legislative

officers and the Governor. To determine whether the Governor has signed the bill

or taken other action on it, please consult the legislative status sheet, the legislative

history, or the Session Laws.

________

Capital letters or bold & italic numbers indicate new material added to existing law; dashes

through words or numbers indicate deletions from existing law and such material is not part of

the act.

title set forth in section 2 for the following amendment to the state

constitution:

In the constitution of the state of Colorado, section 3 of article X,

amend (1)(b) as follows:

Section 3. Uniform taxation - exemptions. (1) (b) Residential real

property, which shall include all residential dwelling units and the land, as

defined by law, on which such units are located, and mobile home parks,

but shall not include hotels and motels, shall be valued for assessment. at

twenty-one percent of its actual value. For the property tax year

commencing January 1, 1985, the general assembly shall determine the

percentage of the aggregate statewide valuation for assessment which is

attributable to residential real property. For each subsequent year, the

general assembly shall again determine the percentage of the aggregate

statewide valuation for assessment which is attributable to each class of

taxable property, after adding in the increased valuation for assessment

attributable to new construction and to increased volume of mineral and oil

and gas production. For each year in which there is a change in the level of

value used in determining actual value, the general assembly shall adjust the

ratio of valuation for assessment for residential real property which is set

forth in this paragraph (b) as is necessary to insure that the percentage of the

aggregate statewide valuation for assessment which is attributable to

residential real property shall remain the same as it was in the year

immediately preceding the year in which such change occurs. Such adjusted

ratio shall be the ratio of valuation for assessment for residential real

property for those years for which such new level of value is used. In

determining the adjustment to be made in the ratio of valuation for

assessment for residential real property, the aggregate statewide valuation

for assessment that is attributable to residential real property shall be

calculated as if the full actual value of all owner-occupied primary

residences that are partially exempt from taxation pursuant to section 3.5 of

this article was subject to taxation. All other taxable property shall be

valued for assessment. at twenty-nine percent of its actual value. However,

The valuation for assessment for producing mines, as defined by law, and

lands or leaseholds producing oil or gas, as defined by law, shall be a

portion of the actual annual or actual average annual production therefrom,

based upon the value of the unprocessed material, according to procedures

prescribed by law for different types of minerals. Non-producing unpatented

mining claims, which are possessory interests in real property by virtue of

PAGE 2-SENATE CONCURRENT RESOLUTION 20-001

leases from the United States of America, shall be exempt from property

taxation.

SECTION 2. Each elector voting at the election may cast a vote

either "Yes/For" or "No/Against" on the following ballot title: "Without

increasing property tax rates, to help preserve funding for local districts that

provide fire protection, police, ambulance, hospital, kindergarten through

twelfth grade education, and other services, and to avoid automatic mill

levy increases, shall there be an amendment to the Colorado constitution to

repeal the requirement that the general assembly periodically change the

residential assessment rate in order to maintain the statewide proportion of

residential property as compared to all other taxable property valued for

property tax purposes and repeal the nonresidential property tax assessment

rate of twenty-nine percent?"

SECTION 3. Except as otherwise provided in section 1-40-123,

Colorado Revised Statutes, if a majority of the electors voting on the ballot

title vote "Yes/For", then the amendment will become part of the state

constitution.

____________________________ ____________________________

Leroy M. Garcia KC Becker

PRESIDENT OF SPEAKER OF THE HOUSE

THE SENATE OF REPRESENTATIVES

____________________________ ____________________________

Cindi L. Markwell Robin Jones

SECRETARY OF CHIEF CLERK OF THE HOUSE

THE SENATE OF REPRESENTATIVES

PAGE 3-SENATE CONCURRENT RESOLUTION 20-001