The TABOR Amendment restricts the total amount of revenue growth and individual taxing entity (a cemetery district, for example) is allowed each year. This is computed by each entity utilizing a formula that takes into account inflation, new construction in the taxing entity’s boundaries, and other factors. The Amendment does not restrict the amount that an individual’s taxes may change, nor does it place a specific percentage limitation on any individual’s tax change. The Amendment does state that mill levies cannot be raised by a taxing entity without an election, except for very special circumstances. It also specifies that improved residential property must be valued using the market approach to value only.