Colorado § 29-1-1702 - Property tax limit imposition - temporary property tax credit - refund.
Full text of Colorado Colorado Revised Statutes § 29-1-1702 — Property tax limit imposition - temporary property tax credit - refund., with citation guidance and answers to common questions.
§ 29-1-1702. Property tax limit imposition - temporary property tax credit - refund.
(1) For property tax years commencing on or after January 1, 2025, a local governmental entity's qualified property tax revenue for a property tax year must not increase by more than the property tax limit.
(2) (a) To prevent the local governmental entity's qualified property tax revenue from exceeding the property tax limit, a local governmental entity's governing body shall either:
(I) Enact a temporary property tax credit that is up to the number of mills necessary to prevent the local governmental entity's qualified property tax revenue from exceeding the property tax limit; or
(II) Temporarily reduce the mill levy imposed by the local government entity.
(b) Neither a temporary property tax credit enacted by a local governmental entity pursuant to subsection (2)(a)(I) of this section nor a temporary reduction by a local governmental entity pursuant to subsection (2)(a)(II) of this section of the mill levy imposed by the local governmental entity changes the underlying mill levy imposed by a local governmental entity. Therefore, reducing or eliminating a temporary property tax credit or a temporary mill levy reduction does not require prior voter approval under section 20 (4)(a) of article X of the state constitution.
(3) If a local governmental entity's qualified property tax revenue exceeds the property tax limit for a property tax year and the local governmental entity does not comply with subsection (2) of this section, then the local governmental entity shall refund any qualified property tax revenue in excess of the property tax limit for the property tax year.
Source: L. 2024: Entire part added, (SB 24-233), ch. 171, p. 909, § 1, effective October 1 (see editor's note following the heading for this part 17).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 29-1-1702
What does Colorado Revised Statutes § 29-1-1702 cover?
Section 29-1-1702 ("Property tax limit imposition - temporary property tax credit - refund.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 29-1-1702?
A common citation format is "Colorado Revised Statutes § 29-1-1702" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 29-1-1702 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.