Bill
HCR 24-1006
Overview: HCR 24-1006, Property Tax Revenue Growth Limit, was introduced in the House on April 11, 2024 and is currently in the House Committee on Appropriations.Purpose and Intent
Overview: HCR 24-1006, Property Tax Revenue Growth Limit, was introduced in the House on April 11, 2024 and is currently in the House Committee on Appropriations.
Purpose and Intent: The bill aims to limit the annual growth in property tax revenue collected by local governments to no more than the rate of inflation plus the percentage change in the state's population. The goal is to provide taxpayers with more predictable and stable property tax bills.
Key Provisions:
- Caps the year-over-year increase in total property tax revenue at the rate of inflation plus population growth
- Allows local governments to exceed the cap only with voter approval through a referendum
- Requires local governments to provide detailed public reporting on property tax rates and revenue
- Establishes a state-level oversight and enforcement mechanism
Affected Parties and Impacts: This bill would impact all property owners by limiting the growth of their property tax bills. Local governments would need to carefully manage their budgets and spending to stay within the revenue growth cap.
Procedural and Timeline Considerations: The bill is currently in the House Committee on Appropriations, where it has been laid over unamended after a failed attempt to amend the legislation. Further action and a potential floor vote in the House are pending.
Compiled from official sources — confirm details with the bill’s official record.
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