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SB 23B-001 - Reduces State Property Taxes for 2023 - Colorado Key Vote

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Title: Reduces State Property Taxes for 2023

Vote Smart's Synopsis:

Vote to concur with house amendments and pass a bill that reduces state property tax rates from 6.765% to 6.7% for the 2023 tax year.

Highlights:

  • Reduces the residential assessment rate from 6.765% to 6.7% for state property taxes beginning with the 2023 tax year (Sec. 1).

  • Authorizes homeowners to exempt up to $55,000 of their home’s property value from taxation (Sec. 2).

  • Appropriates $200 million to repay any school, fire, hospital, and ambulance authorities for any lost revenue due to the lower tax rates (Sec. 2).

NOTE: THIS BILL WAS VOTED ON DURING A SPECIAL SESSION OF THE LEGISLATURE

Full Bill Text

See How Your Politicians Voted

Title: Reduces State Property Taxes for 2023

Vote Smart's Synopsis:

Vote to amend and pass a bill that reduces state property tax rates from 6.765% to 6.7% for the 2023 tax year.

Highlights:

  • Reduces the residential assessment rate from 6.765% to 6.7% for state property taxes beginning with the 2023 tax year (Sec. 1).

  • Authorizes homeowners to exempt up to $55,000 of their home’s property value from taxation (Sec. 2).

  • Appropriates $200 million to repay any school, fire, hospital, and ambulance authorities for any lost revenue due to the lower tax rates (Sec. 2).

NOTE: THIS BILL WAS VOTED ON DURING A SPECIAL SESSION OF THE LEGISLATURE

Full Bill Text

NOTE: THIS BILL WAS VOTED ON DURING A SPECIAL SESSION OF THE LEGISLATURE

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