CO SB255

Amends Colorado Revised Statutes 39-1-104.2 to adjust the residential property assessment ratio based on a target percentage of 45.76 percent, setting the ratio at 7.2 percent of actual value for property tax years beginning January 1, 2017, through December 31, 2018.

Adds new subsection (3)(q) establishing a new residential assessment ratio of 7.15 percent of actual value for property tax years commencing January 1, 2019, onward, based on a revised target percentage of 45.69 percent.

The ratios remain in effect until the General Assembly adjusts them at a subsequent property tax year.

Includes a safety clause declaring the act necessary for the immediate preservation of public peace, health, and safety.

Bill was sponsored by 21 senators and 11 representatives and signed by Governor Jared S. Polis.