Education Property Tax Legislation Update and Stakeholder Feedback Session Craig Harper Joint budget Committee staff October 11, 2019 Craig.harper@state.co.us 303-866-3481 Page 1

Reminder: Why are we here? The Joint Budget Committee is considering two legislative proposals to reform Colorado’s property tax system supporting education. The Committee has asked for stakeholder input to shape and improve the legislation for introduction early in the 2020 legislative session. Uniform Mill Levy: Amend the School Finance Act to return the State to a “uniform” (statewide) total program mill levy with each school district’s total program mill levy set at the lesser of the statewide mill levy or the mill levy necessary to fully fund the district’s total program with local revenues. The mill levy would be uniform for any district receiving state aid for total program. Override Equalization: Provide a State match for mill levy override revenues raised in districts with lower property values (per pupil) to increase equity in mill levy overrides for lower-property-wealth districts. Matching system could be added to the uniform mill levy.

Feedback Process: Updates As many of you know, we are using an online polling tool to generate feedback to inform the Committee’s discussions. We test drove that tool here at the September School Finance Project meeting. Since then, CASB has used the tool in a series of regional meetings to generate feedback from their members. Matt Cook is going to present some of the results from those discussions. I have another set of questions to follow Matt’s presentation.

Thank You! 303-866-3481 Craig Harper Joint budget Committee staff Craig.harper@state.co.us 303-866-3481