Calculation of Property Tax for Special Districts

This bill proposes an amendment to the Colorado Constitution to change how property taxes are calculated for special districts, such as school districts or water authorities. Starting in the 2025 tax year, the tax owed by each property owner would be determined by multiplying the district's total budget by the ratio of that owner's property value to the total value of all taxable property in the district. The district's budget for this calculation would be based on the 2021 budget adjusted for inflation and population changes. If approved by voters, this method would replace the current system for determining individual property tax bills within these districts.