City Council to discuss Gallagher amendment, South Midland project
The removal of a nearly 40-year-old amendment legislating property tax ratios could receive support from the Glenwood Springs City Council during their meeting Thursday.
Adopted by Colorado voters in 1982, the Gallagher amendment dictates how much Colorado homeowners pay in property taxes. Under the amendment, the portion of residential property that is subject to taxation — assessed value — decreases when home values grow faster than business values, meaning homeowners pay proportionately less.
On June 10, the Colorado Senate approved a bill to put a question on the November ballot about removing the Gallagher amendment for a period of at least five years.
City Council is slated to review the possibility of notifying the County Clerk of the city’s intent to participate in the coordinated election to “de-Gallagerhize.”
Mayor Jonathan Godes didn’t respond to requests for comment.
According to a Colorado Mountain College presentation listed in the city documents, the amendment requires property taxes collected statewide to maintain a ratio of 55 percent non-residential and 45 percent residential.
When tax revenues become unbalanced, residential assessments are reduced, which causes many districts to increase mill levies to offset losses in residential tax revenues.
The council could also review traffic control provisions for the South Midland project, slated to begin around Nov. 1.
Because of the narrow, two-lane project area, maintaining two-lane traffic flow on South Midland Avenue throughout the duration of the project could be impossible. In response, the city built a lane rental fee into the project, requiring contractors to add a deposit of about $350,000 to their bids to cover lane rentals during peak traffic hours.
Once the project is complete, the contractor would receive any deposit funds not used for lane rentals, which are rated at $2,000 an hour.
If a contractor goes over the approximately 182 hours covered by the deposit, the city could deduct the rental fees from the project’s other line items, city documents state.
No staff recommendations were offered, and the agenda item is listed for discussion only.
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