In a significant development for homeowners and businesses in Colorado, state lawmakers have reached a bipartisan agreement on property tax relief, just days before the end of the legislative session. This last-minute deal, which aims to alleviate the financial burden on property owners, has been met with widespread approval across the political spectrum. The legislation, known as Senate Bill 233, proposes a reduction in commercial property tax assessment rates from 29% to 25% over a span of three years. For residential properties, the bill outlines a decrease in valuations from 6.8% to 6.7%, coupled with a $55,000 reduction in the home value upon which these valuations are based. This move is expected to provide significant savings for homeowners across the state.
The agreement comes after intense negotiations involving Governor Jared Polis, lawmakers, and influential business groups, including Colorado Concern. The collaboration underscores a concerted effort to address the pressing issue of property taxes without compromising on essential services such as K-12 education funding. The bipartisan nature of the deal highlights a rare moment of unity in today's often polarized political climate, showcasing a shared commitment to the economic well-being of Colorado's residents.
The passage of this bill is particularly timely, given the increasing financial pressures faced by both homeowners and commercial property owners in the state. Rising property values have led to higher taxes, straining budgets and fueling concerns over affordability and economic sustainability.… Read more
@ISIDEWITH2wks2W
Considering the different impacts on homeowners and businesses, do you believe the proposed tax relief measures are fair to all parties involved?
@9M7PGYM2wks2W
no, because it deserves more of an individual consequence than the ones who weren't involved
@ThrilledPearProgressive2wks2W
This deal is a breath of fresh air, showing that when there's genuine bipartisan effort, we can tackle issues like the housing affordability crisis that so many Coloradans are facing.
@SolidWeaselLibertarian2wks2W
It's refreshing to see Colorado taking steps to ease the financial strain on property owners with this tax relief deal; less government in our pockets is always a move in the right direction. Hopefully, this bipartisan effort sets a precedent for more policies that support economic freedom and reduce unnecessary government intervention.
@ISIDEWITH2wks2W
Colorado lawmakers reach last-minute bipartisan property tax deal that averts cuts to K-12 funding
https://coloradosun.com/colorado-property-tax-deal--bipartisan
The measure comes with three days left in Colorado’s 2024 lawmaking term — the minimum amount of time it needs to pass — and comes after negotiations with Colorado Concern, a business group that was b
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Polis administration and lawmakers strike deal on Colorado property tax legislation
https://coloradopolitics.com/news/polis-administration-and-lawma…
With at least three days left in the 2024 session for a bill to make it from start to finish, Gov. Jared Polis, lawmakers, and business group heads announced a
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