Business Services Industry
Colorado Legislators Pass Bills to Lower Residential Tax Rate.
Knight Ridder/Tribune Business News, April, 2001
By Tom McAvoy, The Pueblo Chieftain, Colo. Knight Ridder/Tribune Business News
Apr. 29--DENVER--Colorado lawmakers passed several bills Friday, including HB1366 to lower the tax rate on homes and other residential property.
Sen. Terry Phillips, D-Louisville, amended the residential assessment rate, currently 9.74 percent, to 9.15 percent for property taxes to be assessed this year and collected next year.
Rep. Tim Fritz, R-Loveland, started the bill in the House and needs only to concur in the Senate amendment for final passage.
Periodic rate changes are mandated by the Gallagher Amendment, which voters ratified in 1982. The constitutional amendment caps residential taxes so they don't exceed roughly half (46.61 percent) of...
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