Gov. Jared Polis signs property tax bill designed to bring relief to homeowners

Gov. Jared Polis signed a bill designed to bring homeowners property tax relief on Wednesday. The measure now needs voter approval. 

Coloradans saw increases ranging from 30% to 70%.

Polis signed the bill into law outside a home in Commerce City. The new law means a lower increase in property taxes but also less of a refund under the Taxpayer Bill of Rights, or TABOR. 

This year's assessments are based on last year's property tax values, which skyrocketed for many residents.