Note to Reporters: Reporters interested in attending the event should contact Emily Wilmsen no later than 5 p.m. Tuesday, Dec. 8.
The Colorado State University Everitt Real Estate Center will release a new study on the statewide and regional effect of the Gallagher Amendment and host a panel discussion Dec. 9 in Loveland.
The event will be 4-7 p.m. at the Embassy Suites, 4705 Clydesdale Parkway, just off I-25, in Loveland. The Everitt Real Estate Center in the Colorado State College of Business and the Urban Land Institute are co-hosting the forum.
Registration costs $40 for non-members of the Everitt Real Estate Center. To register, contact (970) 491-5522 or go to http://biz.colostate.edu/EREC/events/Documents/q409/GallagherRegistration.pdf.
• Dennis Gallagher, author, Gallagher Amendment
• Susan Kirkpatrick, executive director, Colorado Department of Local Affairs
• Steve Laposa, director, Everitt Real Estate Center
• Don Marostica, director, Colorado Office of Economic Development and International Trade
• Scott Moore, professor of political science, Colorado State University
• Jim Mulligan, real estate attorney, Snell & Wilmer
• Ron Stewart, director, Boulder County Parks and Open Space
The Gallagher Amendment requires that the portion of residential property subject to taxation – known as assessed value – declines when home values rise faster than business property values. According to the State of Colorado website, the assessment rate on residential properties has dropped from 21 percent in 1982 to 7.96 percent. The assessment rate on Colorado businesses is 29 percent.
“The world has changed since 1982 when the Gallagher amendment was first passed,” Laposa said. “We’ve also seen the consequences of Colorado’s property tax regulations over several business cycles. Revisiting the Gallagher amendment – it’s fairness and (un)intended consequences – is an important issue on the minds of Colorado commercial real estate owners.
“We look forward to presenting new research that examines significant economic and real estate changes of Colorado’s 64 counties since 1982, including a comparative analysis of Colorado vs. other Western states due to property tax regulations.”
Schedule of events:
4-4:30 p.m. – Breakdown of the Gallagher Amendment
4:30-5 p.m. – Facts and (Un)Intended Consequences
5-6 p.m. – Views and Panel Discussion
6-7 p.m. – Hall of Fame and Real Estate Entrepreneur of the Year Presentation
For more information on the Everitt Real Estate Center, go to http://www.biz.colostate.edu/erec/Pages/default.aspx.