CO SCR002

Submits to Colorado voters on November 5, 2024 a constitutional amendment changing how special districts calculate property taxes on individual properties effective January 1, 2025.

Changes property tax calculation from multiplying actual value by assessment rate and mill levy to dividing the property's actual value by the total actual value of all taxable property in the district, then multiplying by the special district's budget.

Defines "special district's budget" as the 2021 property tax year budget plus annual adjustments for inflation and the percentage change in the special district's population from the prior calendar year.

Requires at least fifty-five percent voter approval on the ballot title "Shall there be an amendment to the Colorado constitution concerning the calculation of property tax for special districts?" for the amendment to become part of the state constitution.