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CO HB1311
Bill
Status
Failed
5/4/2017
Primary Sponsor
Michael Weissman
Click for details
AI Summary
- Requires sellers of newly constructed residences to disclose an estimate of future property taxes to buyers
- Property tax estimate must use the purchase price as the property's actual value, the current residential assessment rate, and applicable mill levies for the current tax year
- Sellers with actual knowledge of changes to mill levies in the next year must use the new amount in the tax estimate calculation
- Directs the Property Tax Administrator to make available an online tool by January 1, 2018 to estimate residential property taxes based on user-input property values and mill levies
- Takes effect August 9, 2017, unless a referendum petition is filed, in which case it requires voter approval at the November 2018 general election
Legislative Description
Seller's Disclosure Estimated Future Property Tax
Housing
Last Action
Senate Committee on Finance Postpone Indefinitely
5/4/2017
Committee Referrals
Finance5/1/2017
Committee of the Whole4/27/2017
Local Government3/31/2017
Full Bill Text
No bill text available