53C81ECC6E8D08F087258A8B00701664 Hearing Summary

PUBLIC
BILL SUMMARY For PRESENTATION, DIVISION OF PROPERTY TAXATION

JOINT COMMITTEE COMMITTEE ON COMMISSION ON PROPERTY TAX
Date Dec 20, 2023
Location Old State Library

Presentation, Division of Property Taxation - Committee Discussion Only

Attachment Tag

File Name

Attachment A

Attachment A.pdf

01:24:20 PM

Tony Werckman and
Lori DeCrow, Division of Property Taxation (DPT), gave a presentation on
property taxes in Colorado.

Their presentation can be found in Attachment A and here: https://leg.colorado.gov/sites/default/files/images/committees/tax_commission_presentation_-_dola_-_final.pdf

01:26:11 PM

Mr. Werckman explained the legal basis for property taxation, which includes the state constitution, statutory law, and case law. He discussed the Gallagher Amendment's passage and repeal.

01:35:22 PM

Mr. Weckman discussed the Taxpayer Bill of Rights (TABOR) and its role in property tax legislation. He explained that TABOR requires voter approval for any legislation that increases taxes, including property taxes.

01:41:31 PM

Mr. Wreckman discussed all the legislation that passed between 2021 and 2023 that impacted property taxes.

01:43:28 PM

Ms. DeCrow discussed
the terminology and procedures used by DPT in property valuation.

01:46:05 PM

Ms. DeCrow went over
the ten property classes used by DPT and the current assessment rates for
different property classes. She explained how property value is calculated
and how property values can be appealed by homeowners. She also explained
that there has been a rise of property value appeals in 2023 as a result
of increasing property taxes.

01:54:39 PM

Mr. Wreckman and
Ms. DeCrow responded to questions from the commission on property tax appeals
and exemptions.

Presentation, Division of Property Taxation - Committee Discussion Only

Colorado General Assembly