SENATE BILL 97026
BY SENATOR Coffman;
also REPRESENTATIVES Pfiffner and Faatz.
CONCERNING ADJUSTMENT OF THE RATIO OF VALUATION FOR
ASSESSMENT FOR RESIDENTIAL REAL PROPERTY FOR PROPERTY TAX PURPOSES.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 391104.2
(3), Colorado Revised Statutes, 1994 Repl. Vol., as amended, is
amended BY THE ADDITION OF A NEW PARAGRAPH to read:
391104.2. Legislative declaration
adjustment of residential rate.
(3) (f) PURSUANT TO THE AUTHORITY GRANTED IN
SECTION 3 OF ARTICLE X OF THE STATE CONSTITUTION, THE GENERAL
ASSEMBLY FINDS AND DECLARES THAT, FOR THE PROPERTY TAX YEARS COMMENCING
ON OR AFTER JANUARY 1, 1997, BUT BEFORE JANUARY 1, 1999, THE PERCENTAGE
OF AGGREGATE STATEWIDE VALUATION FOR ASSESSMENT THAT IS ATTRIBUTABLE
TO RESIDENTIAL REAL PROPERTY WILL FAIL TO REMAIN AS IT WAS IN
THE PROPERTY TAX YEAR COMMENCING JANUARY 1, 1996, WHEN THE AGGREGATE
STATEWIDE VALUATION FOR ASSESSMENT WAS BASED ON THE 1995 AGGREGATE
STATEWIDE VALUATION FOR ASSESSMENT. THEREFORE, THE ADMINISTRATOR
HAVING DETERMINED PURSUANT TO SUBSECTION (4) OF THIS SECTION THAT
THE TARGET PERCENTAGE IS 46.17 PERCENT, THE RATIO OF VALUATION
FOR ASSESSMENT FOR RESIDENTIAL REAL PROPERTY SHALL BE 9.74 PERCENT
OF ACTUAL VALUE FOR THE PROPERTY TAX YEARS COMMENCING ON OR AFTER
JANUARY 1, 1997, BUT BEFORE JANUARY 1, 1999.
SECTION 2. Safety
clause. The general assembly hereby finds, determines, and
declares that this act is necessary for the immediate preservation
of the public peace, health, and safety.
____________________________ ____________________________
Tom Norton Charles E. Berry
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Joan M. Albi Judith M. Rodrigue
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO