HB10-1129 Summary

• Requires taxpayers to initially pay property taxes based on the previous year's valuation when property value increases by more than 300% and the taxpayer is appealing the valuation.

• Mandates the county assessor notify the county treasurer of taxpayers receiving notices about the 300% increase threshold, effective for tax years beginning January 1, 2011.

• Entitles taxpayers to recover costs, witness fees, and reasonable attorney fees if the final adjusted valuation is less than one-third of the valuation in the original notice.

• Requires the county treasurer to mail a revised tax statement within 45 days after a final appeal decision, with any remaining taxes due within 30 days of the revised statement.

• Allows attorney fees and costs to be awarded regardless of when the protest or appeal began, and awards may be applied to refunds in appellate cases.