Colorado § 31-12-706 - Land subject to tax for prior indebtedness.
Full text of Colorado Colorado Revised Statutes § 31-12-706 — Land subject to tax for prior indebtedness., with citation guidance and answers to common questions.
§ 31-12-706. Land subject to tax for prior indebtedness.
When the governing body of such town levies a tax upon the property within such town for the purpose of paying such indebtedness or any part thereof and interest thereon, such governing body shall have the authority to levy a tax at the same rate and for the same purpose on the land so disconnected. The county treasurer shall pay over to such town all moneys collected by him on account of such tax, to be applied only to the payment of such indebtedness. In case the owner of any land so disconnected pays off and discharges a portion of such indebtedness equal in amount to the same proportion of the indebtedness which the valuation for assessment of his land bears to the entire valuation for assessment of all the property subject to taxation for the payment of such indebtedness, calculated according to the last assessment previous to such payment, said land shall be exempted from further taxation to pay such indebtedness. Upon such payment being made, the canceled bonds or other evidences of payment of such portion of said indebtedness shall be deposited with the treasurer of such town, and a certificate shall be given by him stating that such payment has been made.
Source: L. 75: Entire title R&RE, p. 1104, § 1, effective July 1.
Editor's note: This section is similar to former § 31-8-506 as it existed prior to 1975.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 31-12-706
What does Colorado Revised Statutes § 31-12-706 cover?
Section 31-12-706 ("Land subject to tax for prior indebtedness.") 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 § 31-12-706?
A common citation format is "Colorado Revised Statutes § 31-12-706" (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 § 31-12-706 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.