SB 23-108
signedAllowing Temporary Reductions In Property Tax Due
Plain-English Summary
AI-generatedSenate Bill 23-108 allows local governments in Colorado to offer temporary property tax relief by reducing taxes or providing credits. This relief must be renewed each year and cannot lower school district taxes below a set minimum. The bill was signed into law on June 5, 2023, and will take effect on August 7, 2023. This means that starting in August, local governments can start implementing temporary property tax reductions for residents.
Official Summary
The act allows a local government to provide temporary property tax relief through temporary property tax credits or mill levy reductions and later eliminate the credits or restore the mill levy. A temporary reduction in property taxes must be annually renewed by the local government. A school district may not temporarily reduce its mill levy below an existing statutory minimum mill levy amount.
APPROVED by Governor June 5, 2023
EFFECTIVE August 7, 2023
NOTE: This act was passed without a safety clause and takes effect 90 days after sine die. (Note: This summary applies to this bill as enacted.)
Details
- Chamber
- Senate
- First action
- 2023-06-05
- Latest action
- 2023-01-31
- Last action desc.
- Introduced In Senate - Assigned to State, Veterans, & Military Affairs
- OpenStates
- View source ↗
Related Legislation
This bill affects (39)
relatesHB 17-1329(2017A)· signedReform Division Of Youth Corrections
relatesSB 17-200(2017A)· failedReward Excellence With Annual Redirected Dollars
relatesSB 18-225(2018A)· signedDefinition Of Early College High Schools
relatesHB 18-1229(2018A)· signedJoint Committee Of Reference Review Of Department Budget Request
relatesSB 22-039(2022A)· signedFunding For Educational Opportunities
relatesHB 22-1002(2022A)· signedFifth Year High School Concurrent Enrollment
relatesHB 17-1324(2017A)· failedEducational Opportunity Tax Incentives
relatesSB 17-029(2017A)· failedFunding For Full-day Kindergarten
relatesSB 17-119(2017A)· failedRestoration Of School District Mill Levies
relatesSB 18-083(2018A)· signedEducation Income Tax Credits For Nonpublic School
relatesSB 17-296(2017A)· signedFinancing Public Schools
relatesSB 17-267(2017A)· signedSustainability Of Rural Colorado
relatesSB 22-093(2022A)· signedExpand Senior And Veteran Property Tax Exemptions
relatesSB 23-107(2023A)· signedSenior And Veterans With Disabilities Property Tax Exemption
relatesHB 18-1088(2018A)· signedFunding For Full-day Kindergarten
relatesSB 17-052(2017A)· signedStatutory Revision Committee Colorado Department of Education Title 22 Corrections
relatesHB 17-1340(2017A)· signedLegislative Interim Committee On School Finance
relatesHB 18-1232(2018A)· signedNew School Funding Distribution Formula
relatesHB 22-1203(2022A)· signedIncome Tax Credits For Nonpublic Education
relatesHB 22-1207(2022A)· signedChoice In Low-performing School Districts
relatesHB 22-1295(2022A)· signedDepartment Early Childhood And Universal Preschool Program
relatesHB 23-1188(2023A)· signedIndividualized Learning Schools And Programs
relatesSB 17-039(2017A)· failedEducation Income Tax Credits For Nonpublic School
relatesSB 18-004(2018A)· signedFunding For Full-day Kindergarten
relatesSB 23-216(2023A)· signedColorado Universal Preschool Program Funding
relatesSB 17-061(2017A)· failedAdditional Funding Charter School Operating Costs
relatesHB 23-1001(2023A)· signedExpanding Assistance For Educator Programs
relatesHB 17-1089(2017A)· failedParent Choice In Low-performing School Districts
relatesHB 17-1375(2017A)· signedDistributing Mill Levy Override Revenue To Schools
relatesHB 22-1220(2022A)· signedRemoving Barriers To Educator Preparation
relatesSB 23-287(2023A)· signedPublic School Finance
relatesSB 23-303(2023A)· signedReduce Property Taxes And Voter-approved Revenue Change
relatesHB 23-1052(2023A)· signedMod Prop Tax Exemption For Veterans With Disab
relatesSB 23-036(2023A)· signedVeterans With Disab Prop Tax Exemption Reqmnts
relatesSB 23-175(2023A)· signedFinancing Of Downtown Development Authority Projects
relatesHB 17-1042(2017A)· signedIncreasing Funding For Full-day Kindergarten
relatesHB 23-1079(2023A)· signedIncome Tax Credits For Nonpublic Education
Affected by (30)
amendsHB 24-1448(2024A)· signedNew Public School Finance Formula
amendsHB 24-1172(2024A)· signedCounty Revitalization Authorities
relatesHB 24-1448(2024A)· signedNew Public School Finance Formula
relatesHB 24-1385(2024A)· signedDepartment of Corrections Caseload Supplemental Appropriation Request Deadline
relatesHB 25-1278(2025A)· signedEducation Accountability System
relatesHB 24-1172(2024A)· signedCounty Revitalization Authorities
relatesHB 24-1302(2024A)· signedTax Rate Information to Real Property Owners
relatesHB 26-1119(2026A)· failedAuthority for Different Mill Levy Rates
relatesSB 24-111(2024A)· signedSenior Primary Residence Prop Tax Reduction
relatesHB 24B-1002(2024B)· signedPrimary Residence Real Property Valuation
relatesHB 24-1216(2024A)· signedSupports for Youth in Juvenile Justice System
relatesSB 24-048(2024A)· signedSubstance Use Disorders Recovery
relatesSB 23-003(2023A)· signedColorado Adult High School Program
relatesHB 24-1363(2024A)· signedCharter Schools Accountability
relatesHB 24-1389(2024A)· signedSchool Funding 2023-24 for New Arrival Students
relatesHB 24-1393(2024A)· signedAccelerating Concurrent Enrollment Program Modifications
relatesHB 24-1044(2024A)· signedAdditional PERA Service Retirees for Schools
relatesHB 25-1199(2025A)· signedProperty Tax Payment Schedule
relatesSB 26-116(2026A)· signedProperty Tax Modifications
repealsHB 23B-1004(2023B)· signed2023 Property Tax Reduction Policy Study
repealsSB 24-188(2024A)· signedPublic School Finance
repealsHB 23B-1005(2023B)· signedMatters Related To Tax Relief For Tax Year 2023
repealsHB 24-1448(2024A)· signedNew Public School Finance Formula
repealsSB 25-315(2025A)· signedPostsecondary & Workforce Readiness Programs
repealsHB 26-1357(2026A)· signedPhase-Out of Teacher Recruitment Education and Preparation Program
Votes
BILL
2023-05-07 · House · pass — Yes: 64 · No: 0 · Other: —
BILL
2023-03-01 · Senate · pass — Yes: 35 · No: 0 · Other: —