Downtown Montrose in the summer of 2019. 

Introduced and passed by Colorado voters in 1982, the Gallagher Amendment intended to keep property taxes low, something it has accomplished as Colorado had one of the country’s lowest property-tax rates in 2019. (The 55/45% split made sure homeowners in Colorado wouldn’t pay more than 45% in state property taxes, leaving those with industrial and commercial properties to cover the rest while protecting those homeowners.)

While the commercial property (nonresidential) tax rate has stayed at 29%, a rise in property values has lowered residential property tax rates from 21% to 7.15%, which is also due to the split mandate set in the Gallagher Amendment.

Josue Perez is a staff writer for the Montrose Daily Press

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