A week from today, state lawmakers will have to get back to work, and try to find ways to cut skyrocketing Colorado property taxes, without raising other taxes…
(Prop Tax Fix wrap :60)
That’s the backup option Governor Polis didn’t want, but on Tuesday voters overwhelmingly rejected his plan, Proposition HH on the ballot. Lawmakers are said to have some options– they could make some of your property value tax-free to lower the overall taxes; they could lower the assessment rate, which would then lower your property tax increase. Legislators could also tinker with TABOR refunds for next year, using some of that money to pay for schools, fire districts, and other local governments that rely on property tax revenue. Whatever they do, it’s expected to only impact next year. Governor Polis’ fellow Democrats control both houses of the legislature, but he hasn’t said what approach he supports…
231110 Gov Polis- give lawmakers freedom to act :10 Q:…property tax relief (2x)…
Whatever comes next is completely up to the Democrats. They could pass a bill without a single Republican vote. The legislature goes back to work at the Capitol next Friday, and is expected to work through that weekend. Thanksgiving is at the end of the following week, so many expect lawmakers to want to finish the work by then.