CO SB108

Allows local governments to approve and certify temporary property tax credits or temporary mill levy rate reductions for property tax relief purposes, in addition to existing constitutional refund purposes.

Prohibits school districts from reducing mill levies below the minimum amounts specified in section 22-54-106.

Requires that temporary property tax reductions be renewed annually and must be clearly indicated by footnote on tax statements.

Establishes that temporary property tax relief procedures are a reasonable method for providing property tax relief and must be certified concurrently with the levy certification to county commissioners.

Takes effect 12:01 a.m. on the day following the ninety-day period after final adjournment of the general assembly, unless subject to a referendum petition filed during that period.