The Student News Site of Fossil Ridge High School

The Gallagher Amendment

April 25, 2018

This map, produced by taxfoundation.org in 2013, displays the fact that Coloradans pay the 43rd lowest residential property tax rates in the country, and this is a direct result of the Gallagher Amendment.

The Gallagher Amendment was passed in 1982, and its stated purpose was to “maintain a constant ratio between the property tax revenue that comes from residential property and from business property” (Great Education Colorado). Though the math behind it is complex, the amendment basically states that the assessment rate for residences, or the percent of property value that is taxed, cannot grow faster than the assessment rate for business property. Because population has grown dramatically in the past years in Colorado, residential real estate values have increased, and so the amount of taxes collected from property have decreased by nearly two-thirds since Gallagher’s adoption. Before 1982, a majority of school funding came from property taxes, but the reduction in tax collection means that school funding must now come out of the state’s annual budget.

Leave a Comment
Donate to Etched in Stone
$100
$1000
Contributed
Our Goal

Your donation will support the student journalists of Fossil Ridge High School. Your contribution will allow us to purchase equipment and cover our annual website hosting costs.

Etched in Stone • Copyright 2024 • FLEX WordPress Theme by SNOLog in

Donate to Etched in Stone
$100
$1000
Contributed
Our Goal

Comments (0)

Slander or profanity, even if abbreviated, will not be approved.
All Etched in Stone Picks Reader Picks Sort: Newest

Your email address will not be published. Required fields are marked *