Vail council ponders ballot measure to exempt town from Gallagher Amendment
(WorldNews Politics)

The Vail Town Council Aug. 4 will consider a potential ballot question to address local impacts of the state`s Gallagher Amendment. The discussion item is listed as 3.4 on the afternoon meeting agenda which begins at 2:30 p.m. The Gallagher Amendment was approved by Colorado voters and adopted in 1982 in response to homeowner concerns over rising residential property taxes. It requires that residential assessed values comprise no more than 45% of the state`s overall assessed value. Non-residential properties, such as commercial and vacant land, make up the remaining 55%. While the Gallagher Amendment sets the commercial assessment at a fixed rate of 29%, the residential assessment rate must...