2020 Colorado Revised Statutes
Title 39 - Taxation
Article 5. Valuation and Taxation
Section 39-5-133. 2011 modification of statutory definition of "agricultural land" - TABOR election - adjustment of district mill levy.
(1) (a) The requirements of paragraph (b) of this subsection (1) shall only apply:
To a district, as defined in section 20 (2)(b) of article X of the state constitution, thathas not obtained voter approval to retain and spend revenues in excess of the fiscal year spending and property tax revenue limits imposed on the district by section 20 (7)(b) and (7)(c) of article X of the state constitution sufficient to allow the retention of all additional property tax revenues; and
Where the district has additionally determined, on the basis of the best availableinformation, that implementation of the modification of the definition of "agricultural land" required by House Bill 11-1146, enacted in 2011, will cause a net property tax revenue gain to the district sufficient to cause the district to exceed such limits.
In the case of a district that meets the requirements specified in paragraph (a) of thissubsection (1), the district may place before the voters of the district at any election at which such ballot issue may be placed on the ballot the question of whether the district may retain and spend revenues in excess of the limits imposed on the district by section 20 (7)(b) and (7)(c) of article X of the state constitution sufficient to allow the retention of the net property tax revenue gain to the district resulting from the implementation of the modification of the definition of "agricultural land" required by House Bill 11-1146, enacted in 2011.
If a majority of the voters of the district fail to approve the ballot issue specified inparagraph (b) of this subsection (1), or if no ballot issue has been submitted to the voters, the district shall adjust the number of mills levied by the district to eliminate any net property tax revenue gain to the district resulting from the modification of the definition of "agricultural land" required by House Bill 11-1146, enacted in 2011.
(2) Notwithstanding any other provision of law, the provisions of subsection (1) of this section shall not apply to any district, regardless of whether or not it satisfies the requirements of paragraph (a) of subsection (1) of this section, that has determined, on the basis of the best available information, that implementation of the modification of the definition of "agricultural land" required by House Bill 11-1146, enacted in 2011, will not cause a net property tax revenue gain to the district.
Source: L. 2011: Entire section added, (HB 11-1146), ch. 166, p. 572, § 2, effective January 1, 2012.
