C.R.S. § 39-1-121 — Expression of rate of property taxation in dollars per thousand dollars of valuation for assessment - definitions

(1) As used in this section, unless the context otherwise requires: (a) Communication means any tax statement pursuant to section 39-10-103. (b) Mill means the rate of property taxation equivalent to the amount of dollars per one thousand dollars of valuation for assessment of taxable real or personal property. (c) Valuation for assessment means the actual value of any real or personal property multiplied by the assessment percentages specified in law. (2) The general assembly hereby finds, determines, and declares that communications to taxpayers regarding the imposition of property taxes expressed in mills can be unduly confusing to the general public. The general assembly further finds, determines, and declares that, for the convenience of taxpayers and to assist citizens in better understanding the property taxation system, it is advantageous for governmental entities levying property taxes to inform taxpayers of such tax rates in terms of the amount of dollars per one thousand dollars of valuation for assessment of taxable real or personal property. (3) In any communication to a taxpayer, any mill levy amounts stated shall be converted into the amount of dollars per one thousand dollars of valuation for assessment of taxable real or personal property. Source: L. 88: Entire section added, p. 1273, § 7, effective July 1. L. 92: (1)(a) amended, p. 2181, § 52, effective June 2. L. 94: (1)(a) amended, p. 1197, § 103, effective July 1. L. 2020: (1)(c) amended, (SB 20-223), ch. 291, p. 1438, § 4, effective January 1, 2021. Editor's note: Section 5(2) of chapter 291 (SB 20-223), Session Laws of Colorado 2020, provides that changes to this section take effect on the date of the governor's proclamation or January 1, 2021, whichever is later, only if, at the November 2020 statewide election, a majority of voters approve the ballot issue referred in accordance with section 2 of Senate Concurrent Resolution 20-001. The ballot issue, referred to voters as amendment B, was approved on November 3, 2020, and was proclaimed by the Governor on December 31, 2020. The vote count for the measure was as follows: FOR: 1,740,395 AGAINST: 1,285,136 39-1-122. Interim task force to study property tax assessment - classification - land used for agricultural and other purposes - 2010 interim - legislative declaration - repeal. (Repealed) Source: L. 2010: Entire section added, (HB 10-1293), ch. 357, p. 1699, § 1, effective June 7. Editor's note: Subsection (7) provided for the repeal of this section, effective July 1, 2012. (See L. 2010, p. 1699.) 39-1-123. Property tax reimbursement - property destroyed by natural cause - repeal. (Repealed) Source: L. 2014: Entire section added, (HB 14-1001), ch. 222, p. 830, § 1, effective May 17. L. 2025: (1) and (2)(a)(II) amended and (7) added, (SB 25-259), ch. 126, p. 493, § 1, effective April 25. Editor's note: (1) For the amendments in SB 25-259 in effect from April 25, 2025, to July 1, 2025, see chapter 126, Session Laws of Colorado 2025. (L. 2025, p. 493.) (2) Subsection (7) provided for the repeal of this section, effective July 1, 2025. (See L. 2025, p. 493.)