HB 10-1093 Summary

• Prohibits county assessors from considering the value of stock or other equitable securities that transfer ownership or usage rights to improvements on real property owned by another person when determining actual property value

• Prohibits county assessors from considering the value of personal property located on real property when determining the actual value of that real property

• Exception allows assessors to continue considering stock value for property owned by cooperative housing corporations

• Does not affect or change the valuation of public utilities pursuant to Article 4 of Colorado law

• Takes effect 90 days after final adjournment of the general assembly (August 11, 2010), unless subject to a referendum petition requiring voter approval in November 2010