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J_COPT_2024A 01/19/2024 01:03:47 PM Committee Summary

PUBLIC
STAFF SUMMARY OF MEETING
JOINT COMMITTEE COMMITTEE ON COMMISSION ON PROPERTY TAX
Date 01/19/2024
Attendance
Baisley X
Jonathan Cappelli X
Guyleen Castriotta X
deGruy Kennedy X
Cody Davis X
Brenda Dones X
Sean Doughrety X
Frizell X
Loren Furman X
JoAnn Groff *
Brett Johnson *
Lori Laske X
Bob Olme X
Tamara Pogue X
Chris Richardson X
Ann Terry X
Kevin Vick X
Andy Kerr (Vice Chair) X
Hansen X
Time 01:03:47 PM to 05:01:04 PM
Place LSB B
This Meeting was called to order by Hansen
This Report was prepared by Adam Alemzada
Hearing Items Action Taken
Presentation on California Proposition 13 and Hard Caps Committee Discussion Only
Presentation on Mill Levy Variance and Smoothing Committee Discussion Only
Presentation on School Funding and Property Taxes Committee Discussion Only
Discussion on Guiding Principles and Draft Recommendations Committee Discussion Only
Next Steps Committee Discussion Only

01:03:50 PM
Senator Hansen, Chair,
and Andy Kerr, Vice Chair, provided opening remarks and discussed the agenda
for the hearing. Trace Faust, representing Keystone Policy Center, introduced
themself and began facilitating the discussion between commission members
and the presenters.



Presentation on California Proposition 13 and Hard Caps - Committee Discussion Only
01:07:38 PM  
Larry Stone, Santa
Clara County Assessor, presented on the passage of Proposition 13 and how
the proposition impacted California's property tax system.
01:23:06 PM  
L. Stone responded
to questions from the commission on Proposition 13.



Presentation on Mill Levy Variance and Smoothing - Committee Discussion Only
01:41:56 PM  
Greg Sobetski and
David Hansen, Legislative Council Staff, presented on the variability of
mill levies across different regions of Colorado and discussed two potential
methods the state could use to smoothe property values over the assessment
cycle.



Their presentation can be found in Attachment A and here: https://leg.colorado.gov/sites/default/files/images/mill_levy_variance_and_smoothing.pdf.
01:56:46 PM  
G. Sobetski and D. Hansen responded to questions from the commission on actual and assessed values.



Presentation on School Funding and Property Taxes - Committee Discussion Only
02:21:56 PM  
Marc Carey and Anna
Gerstle, Legislative Council Staff, presented on how school financing is
handled in Colorado and how changes in property tax laws have affected
funding for education.



Their presentation can be found in Attachment B and here: https://leg.colorado.gov/sites/default/files/images/school_finance_property_tax.pdf.
02:41:52 PM  
M. Carey and A. Gerstle
responded to questions from the commission on the school finance formula.
Committee discussion ensued.



02:57:30 PM
The commission recessed.



03:13:57 PM
The commission reconvened.



Discussion on Guiding Principles and Draft Recommendations - Committee Discussion Only
03:14:13 PM  
T. Faust facilitated a discussion among the commission on the members' guiding principles.
03:22:21 PM  
Commission members
discussed their definitions of each guiding principle.
04:04:51 PM  
Renny Fagan, Keystone
Policy Center, directed commission members to electronically rank and rate
potential policy changes (Attachment C).
04:17:00 PM  
R. Fagan facilitated
a discussion among the commission on potential recommendations for policy
changes (Attachment D).



Next Steps - Committee Discussion Only
04:56:39 PM  
T. Faust discussed
the next commission hearing on February 9, 2024 and the upcoming field
trip. Commission discussion ensued.
05:01:00 PM  
Written testimony
submitted to the commission through January 19 appended as Attachment D.


05:01:04 PM   The committee adjourned.