The Castle Pines North Metropolitan District water system lost pressure early on May 15, 2024. DO NOT DRINK THE WATER WITHOUT BOILING IT FIRST. Learn more here.
The Castle Pines North Metropolitan District water system lost pressure early on May 15, 2024. DO NOT DRINK THE WATER WITHOUT BOILING IT FIRST. Learn more here.
This property tax bill has the following major provisions:
Bill Summary:
Currently, there are temporary reductions in the valuation for assessment (valuation) of multi-family residential real property and all other residential real property. For the 2023 property tax year, the valuation for these properties is 6.765% of the amount equal to the actual value minus the lesser of $15,000 or the amount that causes the valuation to be $1,000. Section 1 of the bill further reduces the valuation for these properties for the 2023 property tax year by reducing the valuation for these properties to 6.7% of the amount equal to the actual value minus the lesser of $50,000 or the amount that causes the valuation to be $1,000. Reimbursement of local governments. The state is currently required to reimburse local governmental entities for property tax revenue lost as a result of the reductions in valuation enacted in Senate Bill 22-238. The bill maintains this backfill mechanism. Section 2 provides an additional backfill mechanism to reimburse local governmental entities for property tax revenue lost as a result of the additional reductions in valuation enacted in the bill.