Voters in Colorado will decide on a citizen-initiated ballot measure on Nov. 5, 2024, that would cap state property tax revenue at 4% over the total revenue collected in the preceding year. The initiative would require statewide voter approval to allow local governments to retain property tax revenue exceeding the 4% growth limit.
Any measures referred to the ballot seeking voter approval to retain property tax revenue would read, “Shall property tax revenue be increased by [total projected increase over the preceding year] allowing government to retain and spend property tax revenue above the 4% annual limit on property tax increases for [dates X to X]?”
On Oct. 6, 2023, the Colorado secretary of state announced proponents had submitted 172,231 valid signatures and that the initiative would appear on the 2024 ballot. To qualify for the ballot, 124,238 valid signatures were required. Proponents submitted 227,357 raw signatures gathered over 57 days.
