CO SCR002

Submits constitutional amendment to Colorado voters on November 8, 2016 creating property tax exemption for possessory interests in real property valued at $6,000 or less.

Exemption takes effect January 1, 2018 for possessory interests with actual value of $6,000 or less.

Starting January 1, 2019, exemption threshold adjusts biennially for inflation, rounded upward to nearest $100 increment, calculated by Property Tax Administrator using prior two calendar years of inflation data.

Property Tax Administrator must certify adjusted exemption amounts by November 1 of each even-numbered year and publish amounts as provided by law.

Amendment becomes part of state constitution if majority of electors voting on ballot title vote "Yes/For."