§ 29-1-1704 — Voter approval of property limit waiver

(1) (a) A local
governmental entity's governing body may submit to the local governmental
entity's electors the question of whether the local governmental entity may waive
the local governmental entity property tax limit established in section 29-1-1702 in
connection with a single property tax year, a specified number of property tax
years, or all future property tax years. If the majority of the local governmental
entity's voters voting thereon approve such a request, the local governmental entity
is not subject to the local governmental entity property tax limit established in
section 29-1-1702 for the period of property tax years for which voters approved
waiving the property tax limit.

(b) For a measure that is placed on the ballot after November 5, 2024, that
would allow a local governmental entity to waive the property tax limit established
in section 29-1-1702 in connection with a single property tax year, a specified
number of property tax years, or all future property tax years, the ballot title must
begin Shall the (name of the local government) waive the 5.25% property tax limit
for and then must specify whether the local governmental entity is seeking to
waive the property tax limit for a single property tax year, a specified number of
property tax years, or all future property tax years.

(2) (a) The voters of the state, rather than the voters of any individual school
district, may waive the school district property tax revenue limit established in
section 29-1-1702.5 in connection with a single property tax year, a specified
number of property tax years, or all future property tax years. If the majority of the
voters of the state voting thereon approve such a request, all school districts are
not subject to the school district property tax revenue limit established in section
29-1-1702.5 for the period of property tax years for which voters approved waiving
the property tax revenue limit. The voters of an individual school district may not
elect to waive the school district property tax revenue limit established in section
29-1-1702.5 for that individual school district.

(b) For a measure that is placed on the ballot after November 5, 2024, that
would allow all school districts to waive the school district property tax revenue
limit established in section 29-1-1702.5 in connection with a single property tax
year, a specified number of property tax years, or all future property tax years, the
ballot title must begin Shall all of the school districts in the state waive the 6%
property tax limit for and then must specify whether the property tax limit would
be waived for all school districts for a single property tax year, a specified number
of property tax years, or all future property tax years.

Legislative History

Source: L. 2024: Entire part added, (SB 24-233), ch. 171, p. 910, � 1, effective October 1 (see editor's note following the heading for this part 17). L. 2024, 2nd Ex. Sess.: Entire section amended, (HB 24B-1001), ch. 1, p. 9, � 6, effective October 1 (see editor's note).