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441E875333C39AB68725889C00556927 Hearing Summary




PUBLIC
BILL SUMMARY For NATIONAL PERSPECTIVE ON PROPERTY TAXES - LINCOLN INSITUTE OF LAND POLICY

INTERIM COMMITTEE  LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Aug 12, 2022      
Location SCR 357



National Perspective on Property Taxes - Lincoln Insitute of Land Policy - Committee Discussion Only


09:33:00 AM  

Chair Hansen called the meeting to order. He discussed the agenda and upcoming meetings.

09:33:35 AM  
Ms. Bethany Paquin,
representing the Lincoln Institute of Land Policy, came to the table to
provide a presentation on a national perspective on property taxes.  Her
presentation may be found in Attachment A and online here:
https://leg.colorado.gov/content/ilocctptf2022ascheduleandmeetingmaterials
09:35:42 AM  
She began the presentation
by highlighting local governments reliance on property taxes.  She
noted that property taxes are the primary funding source of municipal governments
as well.  She discussed property tax and the funding of K-12 education.
09:44:18 AM  
Ms. Paquin continued by discussing Colorado's property tax burden and distinctive features of Colorado's property tax system.
09:45:16 AM  

She continued by discussing the residential and commercial homestead classification ratios with other metropolitan areas. She noted Colorado has a rank of 16th in the nation for per capita property tax.

09:47:39 AM  
In response to a committee questions, Ms. Paquin discussed a circuit breaker property tax relief program.
09:55:41 AM  
Mr. Greg Sobetski,
Legislative Council Staff, came to the table to answer a question about
Colorado's circuit-breaker property tax program, the PTC rebate, and the
property tax deferal program.
09:56:28 AM  
Ms. Paquin continued by discussing state-imposed property tax limits and noted that Colorado is one of 18 states with assessment limits.
10:03:30 AM  
Ms. Paquin concluded her presentation by highlighting several resources for further information.






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