CO SCR001

Submits a constitutional amendment to Colorado voters at the November 5, 2024 general election authorizing local governments to levy a land value tax in lieu of ad valorem property tax, subject to 55% voter approval.

Land value tax taxes only the underlying land value and excludes improvements built on the land, intended to encourage property development and multi-family housing.

Requires the General Assembly to establish procedures for land value assessment, mandates county-level collection, and sets uniform mill levies except for lower rates on commercial agriculture and clean energy land.

Land value tax subject to all existing property tax exemptions, with the General Assembly determining how senior, veteran, and Gold Star spouse exemptions apply to land to ensure proportional benefits.

Allows multiple local governments sharing territory to form joint taxing authorities and permits school districts using land value tax to count that revenue as the local share of total program funding; allows ballot questions to include elimination or reduction of other local taxes.