Opinion: Polis’ property tax fix is a bad deal for Colorado taxpayers

Colorado Governor Jared Polis walks over to speak with local media members before he and other state legislators with supporters announced plans to reduce property tax rates and implement long-term protections to prevent future property tax increases during a press conference at the Colorado State Capitol on May 1, 2023 in Denver, Colorado.

Last year, the legislature’s grand agreement on property tax was Proposition HH, a slick-sounding plan that repackaged refunds already owed to taxpayers and called them property tax relief. At the same time, the plan grabbed an even larger sum of taxpayer refunds to spend on public education. While clever, the plan didn’t stand up to scrutiny — there was no real tax relief in it — and t

Here again, it looks like the legislature is trying to snooker the public into believing they implemented a 5.5% cap when what they really enacted was a property tax cap riddled with loopholes and exceptions. For all these reasons, we are enthusiastic supporters of ballot measures that would legitimately reduce property taxes and in a way that balances the legitimate needs of state and local governments. The business community has stuck to its guns in demanding sensible property tax relief, and the voters will get the chance to deliver that this November.

The truth is, we can implement meaningful property tax relief and fund the government services the public needs.

Source: Real Estate Daily Report (realestatedailyreport.net)

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