Section 29-1-1704 - Voter approval of property limit waiver(1)(a) A local governmental entity's governing body may submit to the local governmental entity's electors the question of whether the local governmental entity may waive the local governmental entity property tax limit established in section 29-1-1702 in connection with a single property tax year, a specified number of property tax years, or all future property tax years. If the majority of the local governmental entity's voters voting thereon approve such a request, the local governmental entity is not subject to the local governmental entity property tax limit established in section 29-1-1702 for the period of property tax years for which voters approved waiving the property tax limit.(b) For a measure that is placed on the ballot after November 5, 2024, that would allow a local governmental entity to waive the property tax limit established in section 29-1-1702 in connection with a single property tax year, a specified number of property tax years, or all future property tax years, the ballot title must begin "Shall the (name of the local government) waive the 5.25% property tax limit for" and then must specify whether the local governmental entity is seeking to waive the property tax limit for a single property tax year, a specified number of property tax years, or all future property tax years.(2)(a) The voters of the state, rather than the voters of any individual school district, may waive the school district property tax revenue limit established in section 29-1-1702.5 in connection with a single property tax year, a specified number of property tax years, or all future property tax years. If the majority of the voters of the state voting thereon approve such a request, all school districts are not subject to the school district property tax revenue limit established in section 29-1-1702.5 for the period of property tax years for which voters approved waiving the property tax revenue limit. The voters of an individual school district may not elect to waive the school district property tax revenue limit established in section 29-1-1702.5 for that individual school district.(b) For a measure that is placed on the ballot after November 5, 2024, that would allow all school districts to waive the school district property tax revenue limit established in section 29-1-1702.5 in connection with a single property tax year, a specified number of property tax years, or all future property tax years, the ballot title must begin "Shall all of the school districts in the state waive the 6% property tax limit for" and then must specify whether the property tax limit would be waived for all school districts for a single property tax year, a specified number of property tax years, or all future property tax years.Amended by 2024EX1 Ch. 1,§ 6, eff. 10/1/2024.Added by 2024 Ch. 171,§ 1, eff. 10/1/2024.Section 19 of chapter 1 (HB 24B-1001), Session Laws of Colorado 2024, Second Extraordinary Session, provides that the act changing this section takes effect only if SB 24-233 takes effect and takes effect upon the effective date of SB 24-233. SB 24-233 took effect on October 1, 2024, due to an amendment to the effective date of SB 24-233 by section 18 of chapter 1 (HB 24B-1001), Session Laws of Colorado 2024, Second Extraordinary Session.