Colorado's high property taxes one reason why Gov. Jared Polis calls second Special Session

Name: Colorado's high property taxes one reason why Gov. Jared Polis calls second Special Session
Uploaded: 2024-08-15T18:29:00-0600
Duration: 3 min 41 s
Description: The compromise would cap increases in property tax revenue for local governments at 5.25% a year and school district revenue growth at 6% a year. Local governments could ask voters to opt out of the cap. The residential assessment rate would drop from 6.7% to 6.3% or 6.4% depending on assessment growth for the 2025 tax year. The commercial rate would be 25% starting in the 2027 tax year.

The compromise would cap increases in property tax revenue for local governments at 5.25% a year and school district revenue growth at 6% a year. Local governments could ask voters to opt out of the cap. The residential assessment rate would drop from 6.7% to 6.3% or 6.4% depending on assessment growth for the 2025 tax year. The commercial rate would be 25% starting in the 2027 tax year.