Colorado Legislature Cuts Property Taxes

This is a Colorado news story, published by MSN, that relates primarily to Bill 1001 news.

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property tax increases

thedenverpost

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Colorado’s latest property tax reform was shaped by power politics, outside leverage and risk aversion

Summary

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80% Informative

House Bill 1001 builds off a tax package signed in May that lowered assessment rates and capped how much property tax revenue collected by local governments and districts could grow.

The new measure adds about $254 million in cuts to the $1.3 billion in reductions passed in the spring .

Gov. Jared Polis says he expects to sign the bill into law next week .

Advance Colorado , as part of the deal, has promised not to run any other ballot initiatives around property taxes for at least six years .

Deal was made in writing, though it has no statutory condition locking it in place more rigidly.

Fire chiefs from across the state testified against expected cuts to their budgets resulting from the bill.

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informal

Language

English