Ballot History

Year: 2021

Ballot Number: Proposition 120

Short Title: Property Tax Assessment Rate Reduction

Ballot Title: Shall there be a change to the Colorado Revised Statutes concerning property tax reductions, and, in connection therewith, reducing property tax revenue by an estimated $1.03 billion in 2023 and by comparable amounts thereafter by reducing the residential property tax assessment rate from 7.15% to 6.5% and reducing the property tax assessment rate for all other property, excluding producing mines and lands or leaseholds producing oil or gas, from 29% to 26.4% and allowing the state to annually retain and spend up to $25 million of excess state revenue, if any, for state fiscal years 2022-23 through 2026-27 as a voter-approved revenue change to offset lost revenue resulting from the property tax rate reductions and to reimburse local governments for revenue lost due to the homestead exemptions for qualifying seniors and disabled veterans?

Election Results:
Rejected

Votes For: 652,382 (43.0%)
Votes Against: 866,197 (57.0%)

Type of Change: Statutory

Initiative/Referendum: Initiative

Bill/Resolution #:
Election Results - SOS: https://results.enr.clarityelections.com/CO/111056/web.278093/#/detail/103

Categories: Property