FLOOD00213

• County: Statewide
• Community: State of Colorado
• Title: Water Rights Determination Systems Study CWCB
• Date: 5/6/1988
• Floodplain - Doc Type: Educational/Technical/Reference Information

MUjU1A~~MI
. . ATTACHMENT B'
MEMORANDUM
March I, 1988
TO: Senator Ted Strickland
FROM: Legislative Council Staff
SU8JECT: Costs of Property Tax Assessment -- Annual and Biennial
Assessments

The Division of Property Taxation (OPT) has completed its report
providing its estimates of the cost of implementing annual assessments
as required under Section 39-1-104 (10.3), C.R.S. This report was
submitted to and approved by the State 80ard of Equalization in
January 1988 and will be reviewed by the Legislative Council on March
9. The statute requiring review by the Legislative Council is Section
39-1-104.1, C.R.S., which reads as follows:

39-1-104.1. Implementation costs annual
revaluation. During the 1988 session, the general assembly
shall consider making an appropriation of state moneys for
the 1988-89 fiscal year to reimburse counties for the actual
and reasonable costs of implementing section 39-1-104 (10.3)
for the property tax year 1989 and, in addition, shall
consider alternative methods of funding the costs of annual
assessments. The amount of actual and reasonable costs of
such implementation shall be estimated by the state board of
equalization and the legislative council after verifying
reports by counties estimating the amount of such costs for
each county. The state board of equalization shall report
its estimate to the general assembly by March 15, 1988. Any
appropriations made pursuant to the provisions of this
section shall be made to the state board of equalization to
be used to reimburse counties for such actual and reasonable
costs incurred in' said implementation. The legislative
council shall evaluate alternative methods of funding the
costs of annual assessments and shall report its findings to
the general assembly not later than March 15, 1988.

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