The bill would temporarily lower property tax rates and allow some homeowners to delay part of their property tax payments but it's also designed to partially cancel out voters' chance to cut property taxes by a larger amount this November.
Lawmakers launch effort to drive down property taxes, combat assessments durangoherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from durangoherald.com Daily Mail and Mail on Sunday newspapers.
Colorado State Capitol, Tuesday, Nov. 24, 2020.
Democrats in Colorado are attempting one of the biggest changes to the state’s tax code in years.
Two new proposals introduced Monday are meant to deliver relief for lower-income families and small businesses by effectively raising the taxes of certain large businesses and wealthier people, lawmakers said.
The bills would raise about $400 million a year by eliminating or reducing some of the tax deductions taken by higher-income taxpayers and businesses, and then spend most of that money about $250 million on measures aimed at helping lower-income families and small businesses.
“I think the word ‘fairness’ is my North Star here ensuring that we are supporting our low-and middle-income Coloradans and small businesses, and not protecting the special interests walking the halls of the Capitol,” said state Rep. Emily Sirota, who is cosponsoring the new bills, HB 1311 and HB 1312, with state Rep. Mike Weissman and senato
The new transportation plan to fix Colorado's roads calls for billions of dollars in taxpayer money. Calling it "fees" helps keep TABOR out of the equation.
Eric Sondermann Larry Laszlo
Amidst all the flurry and breathless pro and con commercials for eleven ballot issues this fall, two measures will prove of long-term consequence dwarfing all of the others.
Colorado voters, in their biennial bacchanal of direct democracy, were certainly in an affirmative mood, saying “yes” to the overwhelming share of these questions. A modest income tax cut was too enticing to turn down. The TABOR ethic of “ask first” was again endorsed and applied going forward to large, fee-based state enterprises. The three gaming towns were given authority to raise betting limits, which they will do as surely as Drew Lock throws interceptions. A sin tax was placed on vapers and ratcheted up on smokers to fund preschool programs, a painfully inapparent connection.