(1) As used in this section, unless the context otherwise requires:
"Communication" means any tax statement pursuant to section 39-10-103.
"Mill" means the rate of property taxation equivalent to the amount of dollars per onethousand dollars of valuation for assessment of taxable real or personal property.
[Editor's note: This version of subsection (1)(c) is effective until the date of the governor's proclamation or January 1, 2021, whichever is later, if the ballot measure is approved. See the editor's note following this section.] "Valuation for assessment" means the actual value of any real or personal property multiplied by the assessment percentages specified in section 3 of article X of the state constitution.
(c) [Editor's note: This version of subsection (1)(c) is effective on the date of the governor's proclamation or January 1, 2021, whichever is later, if the ballot measure is approved. See the editor's note following this section.] "Valuation for assessment" means the actual value of any real or personal property multiplied by the assessment percentages specified in law.
The general assembly hereby finds, determines, and declares that communications totaxpayers 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.
In any communication to a taxpayer, any mill levy amounts stated shall be convertedinto 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 (see editor's note).
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.