Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Property»Gov. Polis calls special session to address property tax relief
    Property

    Gov. Polis calls special session to address property tax relief

    August 15, 20243 Mins Read


    DENVER — Gov. Jared Polis announced on Thursday that he would call a special session of the state legislature to address Colorado property tax relief. It’s set to begin Monday, Aug. 26 at 10 a.m.

    The governor said he’s calling the special session in response to a pair of ballot measures — Proposition 108 and Initiative 50 — set to go before Colorado voters in November that he said would jeopardize funding for critical education services across Colorado.

    House Speaker Julie McCluskie, D-Dillon, said the ballot initiatives would also defund fire response, health care, libraries, water infrastructure, municipal parks and recreation centers.

    “Proposed ballot measures threaten to gut funding for K-12 and higher education, and Coloradans are counting on us to find a path forward that saves people money on property taxes while preserving these critical institutions,” Gov. Polis said.

    The governor’s team and a handful of lawmakers have been working with proponents of the ballot measures for weeks to create a framework that would cap the amount at which school districts would be allowed to tax property owners, so long as supporters withdraw the ballot measures, Denver7’s Brandon Richard reported. The last day to withdraw ballot initiatives is in early September, so the governor’s goal is to come to an agreement before that deadline.

    Gov. Polis said the framework would build upon SB24-233. During the regular session of the state legislature, lawmakers passed SB24-233 that allows homeowners to exempt 10% off the first $700,000 actual value of their property.

    Politics

    Bipartisan bill would bring long-term property tax relief for CO homeowners

    The exemption would work on a sliding scale as the property value increases above the $700,000 mark.“Let’s say you have a $1.2 million house, it knocks $70,000 off the value,” said Governor Polis. “If it’s a $400,000 house, it knocks $40,000 off.”

    Colorado legislators have been scrambling since 2023 when homeowners were stunned with massive increases in property taxes after a historic bump in home values.

    Ballot proponents pushed Proposition 108 and Initiative 50 to make more aggressive cuts to property taxes.

    “Now is the time to work on further lowering property taxes, which have skyrocketed in Colorado in the last few years,” Colorado Senate republican leadership said in a statement Thursday. “We are eager to return to the Gold Dome later this month and continue our efforts to bring permanent and substantial relief for Colorado’s taxpayers by lowering property valuation rates for both residential and nonresidential properties.”

    “Whenever any ballot issue is on the ballot, you never know what’s going to happen,” Polis told Denver7. “And if they were to pass, it would be devastating for all the work that we’re doing. It would lead to enormous cuts of funding in our schools, enormous cuts for community colleges and colleges. Road funding for counties would have to be diverted to backfill, so a lot of problems with these.”

    Gov. Polis said he would not sign any legislation passed during the special session until he gets confirmation from the Colorado secretary of state that Proposition 108 and Initiative 50 were pulled from the ballot.

    Coloradans making a difference | Denver7 featured videos

    At Denver7, we’re committed to making a difference in our community. We’re standing up for what’s right by listening, lending a helping hand and following through on promises. See that work in action, in the featured videos in the playlist above.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Property experts warn about ‘worrying red flags’ when buying a house

    Property

    Family swap UK for Eastern Europe and show insane savings after leaving ‘rat race’

    Property

    Controversial property developer Matthew Doyle and his wife Kelsea sell their Sydney home for $2.8million

    Property

    NJ among states with highest property taxes. Here’s where it ranks

    Property

    What are the most dangerous cities in Louisiana? Study shows 10 crime rates

    Property

    Number of US cities with falling house prices hits alarming milestone as crash fears escalate

    Property
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    A shot in the foot? Major cryptocurrency organization donates millions of dollars to Democrats

    Property

    The sector is on the cusp of a new digital era for property information – Rudolf

    Precious Metal

    A-Mark Precious Metals Sets Fiscal Fourth Quarter and Full Year 2024 Earnings Call for Thursday, August 29, at 4:30 p.m. ET

    Editors Picks

    Is Indian stock market closed tomorrow for Janmashtami?

    August 25, 2024

    Open-mind to cryptocurrency urged

    February 24, 2025

    Mercato : C’est signé, le Real Madrid boucle un coup à 1 milliard d’euros !

    June 14, 2025

    Deux ans après sa levée de fonds, Dougs est en pleine croissance

    July 7, 2025
    What's Hot

    Orange : vers une cession de la fintech Anytime

    May 23, 2025

    Starwood Property Trust propose une émission de billets de premier rang d’un montant de 400 millions de dollars

    March 25, 2025

    3 TSX Dividend Stocks To Consider For Your Portfolio

    May 12, 2025
    Our Picks

    You could soon pay with digital rupee—even without internet

    June 18, 2025

    New World Currency? Not So Fast BRICS Nations, Analyst Says, ‘De-Dollarization Is A Myth’

    August 9, 2024

    Can tech help the state of the UK property market?

    April 15, 2025
    Weekly Top

    CNBC-TV18 Exclusive | PB Fintech acquires Pensionbazaar.com, say sources

    August 5, 2025

    Copper price slips as unwinding of tariff trade boosts LME stockpiles

    August 5, 2025

    Utilities ETF (IDU) Hits New 52-Week High

    August 5, 2025
    Editor's Pick

    5 things to know before the stock market opens Tuesday, October 29

    October 29, 2024

    Trump tariffs live updates: UK’s FTSE 100 jumps as global markets rebound after Trump’s tariffs reversal

    April 10, 2025

    The End of Cash? Exploring the Unintended Impacts of Digital Payment Adoption

    March 23, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.