Colorado Taxes Amendment, Referendum 1 (1982)

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The Colorado Taxes Amendment, also known as Referendum 1, was on the November 2, 1982 ballot in Colorado as a legislatively-referred constitutional amendment, where it was approved. The measure provided for the following:

  • Changed the assessment of property values for differing kinds of real estate, including residential and mining properties.
  • Created property tax exemptions for certain types of personal and agricultural properties.
  • Created enforcement policies against counties that fail to properly evaluate property values.
  • Composed the state board of equalization of the Governor of Colorado, the speaker of the House of Representatives, the president of the senate and two additional members, who are appointed by the Governor with the consent of the senate. Created the appointment of the property tax administrator through the board.[1]

Election results

Colorado Referendum 1 (1982)
ResultVotesPercentage
Approveda Yes 551,334 65.49%
No290,59034.51%

Election Results from: Colorado State Legislative Council, Ballot History

Text of measure

See also: Colorado State Constitution, Article X

The language on the ballot appeared as:[1]

Shall sections 3 and 15 of article X of the Colorado Constitution be amended in the following manner:

(a) regarding actual value and valuation for assessment: to reduce the valuation for assessment of residential real property, consisting of all residential dwelling units and underlying land and mobile home parks. But excluding hotels and motels from thirty to twenty-one percent of actual value: to require the general assembly to adjust such percent for years in which a new level of value is used in determining actual value as such adjustment is needed to maintain the previous year's percentage of statewide valuation for assessment attributable to residential real property. To reduce the valuation for assessment of all other taxable property from thirty to twenty-nine percent to provide that actual value be determined by appropriate consideration of cost approach, market approach, and income approach to appraisal except actual value of residential real property shall be determined by consideration of cost and market approaches only and actual value of agricultural lands shall be determined by consideration of earning or productive capacity capitalized at a rate prescribed by law: to provide that valuation for assessment for producing mines and oil and gas leaseholds and lands be a portion of actual annual or actual average annual production and be based upon the value of the unprocessed material;

(b) regarding exemptions from property tax to exempt the following classes of personal property: household furnishings, personal effects, inventory of merchandise and material and supplies held for business consumption or for sale. Livestock, agricultural, and livestock products and agricultural equipment used on the farm or ranch in producing agricultural products;

(c) regarding enforcement of property tax laws to provide enforcement provisions against counties that fail to determine actual value or valuation for assessment in accordance with the state constitution or with applicable statutes;

(d) regarding the state board of equalization and the property tax administrator to provide that the board be composed of the governor or his designee the speaker of The house of representative or his designee, the president of the senate or his designee and two members appointed by the governor with the consent of the senate each of whom shall be an appraiser or a former county assessor or a person knowledgeable and experienced in property taxation. To provide for the appointment of the administrator by the board and to remove the administrator from the state personnel system?[2]

See also

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External links

References

  1. 1.0 1.1 Colorado State Legislative Council, "Ballot History," accessed February 19, 2014
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.