C.R.S. Section 39-1-111.5
Temporary property tax credits and temporary mill levy rate reductions

(1)

In order to effect a refund for any of the purposes set forth in section 20 of article X of the state constitution, or to provide property tax relief by a temporary reduction in property taxes due, any local government may approve and certify a temporary property tax credit or temporary mill levy rate reduction as set forth in this section. A district, as defined in section 22-54-103 (5), may not reduce a mill levy below the minimum amounts provided in section 22-54-106. The procedures set forth in this section are deemed to be a reasonable method for effecting refunds in accordance with section 20 of article X of the state constitution and for providing temporary property tax relief. A temporary reduction in property taxes due for the purpose of property tax relief is subject to annual renewal.

(2)

Concurrent with the certification of its levy to the board of county commissioners as required pursuant to section 39-5-128 (1), any local government may certify a temporary property tax credit or temporary mill levy rate reduction. The certification must include the local government’s gross mill levy, the temporary property tax credit or temporary mill levy rate reduction expressed in mill levy equivalents, and the net mill levy, which must be the gross mill levy less the temporary property tax credit or temporary mill levy rate reduction. A district, as defined in section 22-54-103 (5), may not certify a net mill levy below the minimum amounts provided in section 22-54-106.

(3)

Concurrent with certification to the assessor of all mill levies by the board of county commissioners or other body authorized by law to levy taxes, or by either group’s authorized party, in accordance with section 39-1-111 (2), the board of county commissioners shall certify any other local government’s temporary property tax credit or temporary mill levy rate reduction and any temporary property tax credit or temporary mill levy rate reduction for the county or city and county itself, itemized as set forth in subsection (2) of this section.

(4)

Concurrent with the delivery to the treasurer of the tax warrant by the assessor in accordance with section 39-5-129, the assessor shall, in addition to all other information required to be set forth in the tax warrant, itemize in the manner set forth in subsection (2) of this section any duly certified temporary property tax credit or temporary mill levy rate reduction.

(5)

Upon receipt of any tax warrant reflecting a temporary property tax credit or temporary mill levy rate reduction for any local government, the treasurer shall be responsible for collecting taxes on behalf of the local government based upon the local government’s net adjusted mill levy. In addition to any other information required by section 39-10-103, the tax statement must indicate by footnote which, if any, local government mill levies in the tax statement reflect a temporary property tax credit or temporary mill levy rate reduction for the purpose of effecting a refund in accordance with section 20 of article X of the state constitution or for providing temporary property tax relief.

Source: Section 39-1-111.5 — Temporary property tax credits and temporary mill levy rate reductions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-39.­pdf (accessed Oct. 20, 2023).

39‑1‑101
Legislative declaration 39‑1‑101.5
Legislative declaration - taxpayer rights 39‑1‑102
Definitions 39‑1‑103
Actual value determined - when - legislative declaration 39‑1‑103.5
Restrictions on information 39‑1‑104
Valuation for assessment - definitions 39‑1‑104.2
Residential real property - valuation for assessment - legislative declaration - definitions 39‑1‑104.3
Partial real property tax reductions - residential property - definitions - repeal 39‑1‑104.4
Adjustment of residential rate 39‑1‑104.5
Severed mineral interest - placement on tax roll 39‑1‑104.6
Primary residence real property 39‑1‑104.7
Qualified-senior primary residence real property - definitions 39‑1‑105
Assessment date 39‑1‑105.5
Reappraisal ordered based on valuation for assessment study - state school finance payments 39‑1‑106
Partial interests not subject to separate tax 39‑1‑107
Tax liens 39‑1‑108
Payment of taxes - grantor and grantee 39‑1‑109
Taxes paid by mortgagee - effect 39‑1‑110
Notice - formation of political subdivision - boundary change of special district 39‑1‑111
Taxes levied by board of county commissioners - repeal 39‑1‑111.5
Temporary property tax credits and temporary mill levy rate reductions 39‑1‑112
Taxes available - when 39‑1‑113
Abatement and refund of taxes 39‑1‑114
Who may administer oath 39‑1‑115
Records prima facie evidence 39‑1‑116
Penalty for divulging confidential information 39‑1‑117
Prior actions not affected 39‑1‑118
Repeal of law levying state property tax - disposition of funds 39‑1‑119
Funds held for payment of taxes - refund - reduction and increase of amounts - penalty 39‑1‑119.5
Funds collected by lessors of personal property for payments of taxes - refund - damages 39‑1‑120
Filing - when deemed to have been made 39‑1‑121
Expression of rate of property taxation in dollars per thousand dollars of valuation for assessment - definitions 39‑1‑123
Property tax reimbursement - property destroyed by natural cause 39‑1‑124
Mailing required to be sent by county assessor or treasurer - reasonable certainty mailing will not be delivered
Green check means up to date. Up to date

Current through Fall 2024

§ 39-1-111.5’s source at colorado​.gov