Colorado Property Tax Valuation Initiative (2024)
| Colorado Property Tax Valuation Initiative | |
|---|---|
 | |
| Election date November 5, 2024 | |
| Topic Taxes | |
| Status Not on the ballot | |
| Type Amendment & Statute | Origin Citizens |
The Colorado Property Tax Valuation Initiative was not on the ballot in Colorado as an combined initiated constitutional amendment and state statute on November 5, 2024.
This initiative would have set the actual value of real property at the 2021 property tax valuation amount or the amount of the property's most recent sale occurring on or after June 30, 2020. The initiative would limit the annual increase in a property's actual value to inflation, with a cap of 2.5%.[1]
Text of measure
Ballot title
The ballot title for the initiative is below:[2]
| “ | Shall 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 $2.3 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 certain real property for purposes of property taxation, and, in connection therewith, setting the actual value of real property at the 2021 property tax valuation amount or the amount of the property's most recent sale that occurred on or after June 30, 2020; limiting the annual increase in a property's actual value to inflation capped at 2.5%; and allowing a property to be reappraised if it is substantially improved or suffered a decline in value?[3] | ” |
Full text
The full text is available here.
Path to the ballot
The state process
In Colorado, the number of signatures required to qualify an initiated constitutional amendment for the ballot is equal to 5 percent of the total number of votes cast for the office of Colorado secretary of state in the preceding general election. For initiated constitutional amendments, signature gathering must be distributed to include signatures equal to 2 percent of the registered voters who live in each of the state's 35 senate districts.
State law provides that petitioners have six months to collect signatures after the ballot language and title are finalized. State statutes require a completed signature petition to be filed three months and three weeks before the election at which the measure would appear on the ballot. The Constitution, however, states that the petition must be filed three months before the election at which the measure would appear. The secretary of state generally lists a date that is three months before the election as the filing deadline.
Constitutional amendments in Colorado require a 55% supermajority vote to be ratified and added to the state constitution. This requirement was added by Amendment 71 of 2016.
The requirements to get an initiated constitutional amendment certified for the 2024 ballot:
- Signatures: 124,238 valid signatures
- Deadline: August 5, 2024
The secretary of state is responsible for signature verification. Verification is conducted through a review of petitions regarding correct form and then a 5 percent random sampling verification. If the sampling projects between 90 percent and 110 percent of required valid signatures, a full check of all signatures is required. If the sampling projects more than 110 percent of the required signatures, the initiative is certified. If less than 90 percent, the initiative fails.
Details about this initiative
- The initiative was filed by Tom Kim and Annaliese Steel on December 20, 2023.[1]
- Sponsors did not submit signatures by the deadline on August 5, 2024.[1]
See also
External links
Footnotes
- ↑ 1.0 1.1 1.2 Colorado Secretary of State, "Initiative Filings," accessed December 8, 2023
- ↑ Colorado Secretary of State, "Results for Proposed Initiative #97," accessed December 23, 2023
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
