Colorado voters could get to decide this November the fate of a last-minute proposal that aims to reduce skyrocketing property values for at least the next decade. COPolitics
DENVER – Colorado voters could get to decide this November the fate of a last-minute proposal that aims to reduce skyrocketing property values for at least the next decade after a group of county assessors announced last week property taxes would increase at unprecedented levels starting in 2024.
The measure was expected to be introduced as a bill in the legislature Monday and only needs the support of a simple majority to be on the ballot later this year. With the end of 2023 legislative session fast approaching, state lawmakers only have a week left to pass the bill.
It would also protect funding for public schools, fire districts, water districts, as well as ambulance and hospital districts in areas of the state that aren’t growing as fast by taking some of the predicted revenue surplus the state would otherwise need to return Colorado residents under the Taxpayer Bill of Rights , according to our partners at The Denver Post.
“We’re proposing lowering tax assessments on businesses by over 10% over the next decade, saving businesses hundreds of millions of dollars and fixing the distortion that Gallagher led to,” Polis said in front of Democratic state lawmakers who support the measure. “I think the path of the ballot is clear and I’m confident the voters want property tax relief and don’t want to defund our schools, so I’m very optimistic for the passage of this bill in November.
“While we at the Capitol were making too many new laws that were way too expensive, real Coloradans across the state have been opening up their mail and finding tax bills they cannot pay. Democrats and the Governor waited until the last minute to fix a problem they knew was coming all along. House Republicans have been raising this urgent issue for months, if not longer,” stated Leader Lynch.
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