Colorado Legislative Council Staff

REVISED NO FISCAL IMPACT

(Replaces Fiscal Note dated February 8, 1998)

TITLE:            CONCERNING AN ALTERNATE PROCEDURE FOR TAXPAYERS TO CONTEST THE VALUATION OF REAL PROPERTY FOR PROPERTY TAX PURPOSES IN CERTAIN COUNTIES THAT ELECT TO UTILIZE SUCH ALTERNATIVE PROCEDURE.

Summary of Assessment

            For property tax years commencing on or after January 1, 1999, this reengrossed bill would authorize the counties of Boulder, El Paso, and Jefferson, and the City and County of Denver to elect to use an alternate protest and appeal procedure to resolve objections and protests concerning valuations of taxable real property. The county’s decision to use this procedure must be made annually on or before May 1. Use of the alternate procedure would require a request by the assessor and approval by the governing body of the county.

            The time period in which the assessor must deny an objection and protest in a county that elects to use the alternate protest and appeal procedure would be extended by 90 days. In addition, the time period in which the County Board of Equalization must conclude hearings and render decisions on appeals would be extended from August 5 to November 1.

            The bill is assessed as having no fiscal impact on the state or on units of local government. For counties that elect to implement an alternate protest and appeal procedure, the bill may actually reduce the number of cases that would be brought before the Board of Assessment Appeals due to the extended time period that would be allowed at the county level to review protests and to negotiate settlements with taxpayers and taxpayer agents. The bill would become effective upon signature of the Governor.

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