The differences in assessment rates between residential homes and other types of property is the result of an amendment to the Colorado Constitution (known as the Gallagher Amendment) approved by the voters in 1982, which limited the residential share of the property taxes. Historically, the State Legislature adjusted the residential assessment rate each year to meet Gallagher statutory requirements. However, In 2020, Amendment B to the Colorado Constitution repealed the part of Gallagher that dictated how assessment rates were set. Now rates are set by state legislature annually. Rates cannot be increased without a vote of the people, but they can be decreased.