Page:Colorado State Constitution (2020).pdf/92

 permanent disability through disability retirement benefits or a pension pursuant to a law or regulation administered by the department, the department of homeland security, or the department of the army, navy, or air force.

(2) Notwithstanding the provisions of subsection (1) of this section, section 20 of this article, or any other constitutional provision, for any property tax year commencing on or after January 1, 2003, the general assembly may raise or lower by law the maximum amount of actual value of residential real property of which fifty percent shall be exempt under subsection (1) of this section.

(3) For any property tax year commencing on or after January 1, 2002, the general assembly shall compensate each local governmental entity that receives property tax revenues for the net amount of property tax revenues lost as a result of the property tax exemption provided for in this section. For purposes of section 20 of article X of this constitution, such compensation shall not be included in local government fiscal year spending and approval of this section by the voters statewide shall constitute a voter-approved revenue change to allow the maximum amount of state fiscal year spending for the 2001-02 state fiscal year to be increased by forty-four million one hundred twenty-three thousand six hundred four dollars and to include said amount in state fiscal year spending for said state fiscal year for the purpose of calculating subsequent state fiscal year spending limits. Payments made from the state general fund to compensate local governmental entities for property tax revenues lost as a result of the property tax exemption provided for in this section shall not be subject to any statutory limitation on general fund appropriations because the enactment of this section by the people of Colorado constitutes voter approval of a weakening of any such limitation.

Source: L. 2000: Entire section added, p. 2784, effective upon proclamation of the Governor, December 28, 2000. L. 2006: (1) amended and (1.3) and (1.5) added, p. 2953, effective upon proclamation of the Governor, L. 2007, p. 2963, December 31, 2006.

Section 4.Public property exempt. The property, real and personal, of the state, counties, cities, towns and other municipal corporations and public libraries, shall be exempt from taxation.

Source: Entire article added, effective August 1, 1876, see L. 1877, p. 58.

Section 5.Property used for religious worship, schools and charitable purposes exempt. Property, real and personal, that is used solely and exclusively for religious worship, for schools or for strictly charitable purposes, also cemeteries not used or held for private or corporate profit, shall be exempt from taxation, unless otherwise provided by general law.

Source: Entire article added, effective August 1, 1876, see L. 1877, p. 58. L. 36, 2nd Ex. Sess.: Entire section amended, p. 107, see L. 37, p. 1034.

Section 6.Self-propelled equipment, motor vehicles, and certain other movable equipment. The general assembly shall enact laws classifying motor vehicles and also wheeled trailers, semi-trailers, trailer coaches, and mobile and self-propelled construction equipment, prescribing methods of determining the taxable value of such property, and requiring payment of Colorado Revised Statutes 2020