(The Center Square) – A bill to lower property taxes was introduced with bipartisan sponsorship in the Colorado Senate and supported by a wide range of organizations with two days left in the 2024 session.
If passed by the General Assembly and signed into law, Colorado homeowners wouldn’t see an increase in their property taxes for 2024, according to a media release from Democratic Gov. Jared Polis. Senate Bill 24-233 would reduce property taxes between $300 and $400 – a 7% to 10% cut compared to current tax rates – for homes worth $700,000 or less. The bill also would cap local property tax rates at 5.5% in 2025.
“We are saving Coloradans money on property taxes and making Colorado more affordable,” the governor said in a statement. “No one should be priced out of their home because they can’t afford their property tax bill and this bipartisan effort
Read more…
