HomeMy WebLinkAboutRESOLUTION 61-20 RESOLUTION 61-20
A RESOLUTION SUPPORTING COLORADO AMENDMENT B — GALLAGHER
AMENDMENT REPEAL AND PROPERTY TAX ASSESSMENT RATES MEASURE
(2020)
WHEREAS, the Town of Estes Park adheres to the Colorado Fair Campaign
Practices Act, which expressly authorizes local governments to adopt and distribute in
normal fashion an adopted Resolution supporting or opposing any ballot issue of
importance to that local government; and
WHEREAS, the Gallagher Amendment Repeal and Property Tax Assessment
Rates Measure (the "Gallagher Amendment Repeal Measure") will appear as
Amendment B on the statewide ballot in the November 3, 2020 Colorado election; and
WHEREAS, Amendment B proposes amending the Colorado Constitution to
repeal the Gallagher Amendment which requires residential and nonresidential property
tax revenues to make up the same portion of total statewide property taxes as when the
Gallagher Amendment was adopted in 1982 (roughly 45% residential and 55%
nonresidential), and sets the nonresidential assessment rate at 29%; and
WHEREAS, if Amendment B passes, Senate Bill 20-223 of the Colorado General
Assembly will take effect, freezing property tax assessment rates at current values (7.15%
for residential property and 29% for nonresidential property); and
WHEREAS, if Amendment B does not pass, the Residential Assessment Rate is
estimated to drop from 7.15% to 5.88% in 2021 by the State of Colorado; and
WHEREAS, this projected decrease in the Residential Assessment Rate will have
a significant financial impact on local governments throughout the Estes Valley that rely
heavily on property tax revenue to provide critical governmental services, including
Larimer County, the Library District, the Estes Valley Recreation and Park District, and
the School District; and
WHEREAS, the passage of Amendment B would eliminate the need for automatic
mill levy adjustments by the Estes Valley Fire Protection District; and
WHEREAS, if Amendment B does not pass, nonresidential property owners will
pay an effective tax rate that is approximately five (5) times higher than residential
property owners after the estimated reduction in Residential Assessment Rate to 5.88%;
and
WHEREAS, the financial health of local governments that rely on property tax is
important to overall health and wellbeing of the community of Estes Park and to the Town
of Estes Park; and
WHEREAS, the passage of Amendment B would help stabilize and maintain
property tax revenues for local governments in Estes Park and throughout Colorado.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES O 4**k
THE TOWN OF ESTES PARK, COLORADO:
The Board supports the Gallagher Amendment Repeal Measure and urges Town
electors to vote YES on Amendment B.
DATED this day of , 2020.
TOWN OF ESTES PARK
Mayor
ATTEST:
Town Clerk
APPROVED AS TO FORM:
27-
Town Attorney