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Bookmark or Share- Gallagher led to $35 billion in residential property tax cuts. Now ...Adopted by voters in 1982, the Gallagher Amendment is designed to provide ongoing tax relief to homeowners by limiting residential property to no more than 45% of the total property tax base statewide. It required businesses to pick up the remaining 55% share of the tax burden.
- Gallagher Amendment - WikipediaThe Gallagher Amendment was an amendment to the Colorado Constitution enacted in 1982 and repealed in 2020 concerning property tax. It set forth the guidelines in the Colorado Constitution for determining the actual value of property and the valuation for assessment of such property. [1]
- EVERYTHING YOU ALWAYS WANTED TO KNOW ABOUT THE GALLAGHER AMENDMENTQ: What does the Gallagher Amendment do? A: The Gallagher Amendment divides the state’s total property tax burden between residential and nonresidential (commercial) property. According to the Amendment, 45% of the total amount of state property tax collected must come from residential property, and 55% of the property tax collected must
- Amendment B: Repeal Gallagher Amendment, Explained - Colorado Public RadioRepealing Gallagher would prevent future cuts to residential property taxes. It would lock one part of the residential property tax formula at its current rate and stabilize funding for...
- Four years after its repeal, the Gallagher Amendment still overshadows ...The Gallagher Amendment was approved by voters in 1982. It promised that Colorado’s homeowners would collectively pay no more than 45 percent of the state’s total property taxes.
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