Section 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.Amended by 2020 Ch. 291, § 4, eff. 1/1/2021.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. 1438, p. 1438, § 4, effective 1/1/2021.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