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DENVER, CO – The House State, Civic, Military, and Veterans Affairs Committee today passed legislation sponsored by Majority Leader Daneya Esgar and Representative Patrick Neville to make the property tax assessment process more transparent and accountable for all property owners.
“From sending every taxpayer $400 or $800 early refund checks to reducing property taxes for families and businesses and free universal preschool, we’re making tremendous progress saving people money,” said Rep. Daneya Esgar, D-Pueblo. “This week, we announced property tax relief that will save homeowners $274 on average. The bill we passed today makes important reforms to improve the transparency and accountability of the property tax assessment process to protect homeowners and businesses from errors that can cost them money.”
“This bipartisan legislation will give homeowners and business owners more information about how their property values are assessed and more time to address errors that can increase their tax bills,” said Rep. Patrick Neville, R-Castle Rock. “This effort will protect taxpayers, increase transparency, and improve how property values are assessed and appealed in Colorado.”
HB22-1416, which passed by a vote of 9-0, reforms the property tax assessment process. The bill would provide taxpayers with more information about their valuations and a longer period of time to appeal their values.
Under the bill, the timeline to appeal property values would be extended by one week. It requires county assessors to provide property owners an estimate of their tax liability as well as information about how they can protest their assessed property values.
Property owners would have the opportunity to fast track their appeal if the assessor is provided all the necessary information. Additionally, the bill would require property tax administrators to publish the assessors’ handbook, which includes appraisals procedures, and allow for public comment and review on the handbook and proposed changes. For commercial properties, the bill improves transparency in how they are valued by requiring the notice of valuation to notify property owners that they can obtain details from their assessor about how their property was valued.