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Initiative 27: Experts weigh in on property tax ballot initiative
Residential property taxes would drop to 6.95 percent from 7.15 percent, and non-residential property tax rates would drop to 26.4 percent from 29 percent
A ballot measure designed to lower property taxes moves closer to a statewide vote. Colorado Rising State Action turned in over 190,000 signatures to the Secretary of Stateâs office on Monday.
and last updated 2021-08-03 08:40:31-04
COLORADO SPRINGS â A ballot measure designed to lower property taxes moves closer to a statewide vote.
Colorado Rising State Action turned in over 190,000 signatures to the Secretary of Stateâs office on Monday. What s been happening over the last few years is a huge rise in home values, the assessment rates that people got are a lot higher than they used to be. Our houses are worth more, but that doesn t mean you have more money in your pocket to be able to pay for the property taxes. Seeing the strain this could
ColoradoBiz Magazine
How will this impact real estate purchases and refinances?
April 6, 2021
Will mortgage rates rise substantially in 2021? Yes! Why are mortgage rates rising while the federal reserve pledges to keep rates low through 2023? How will this impact real estate purchases and refinances? How are mortgage rates “set”?
First, it is important to note that the federal reserve does not directly control mortgage rates. The fed controls the “federal funds rate.”
The federal funds rate is the rate at which banks and credit unions lend reserve balances to other banks and credit unions overnight. In a nutshell this is the rate banks get on the money they are holding in cash/reserves.
5 changes to real estate that you should know - ColoradoBiz Magazine cobizmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cobizmag.com Daily Mail and Mail on Sunday newspapers.
ColoradoBiz Magazine
Taxes are going up 164% in Denver County
November 17, 2020
It has been quite the election cycle with lots of ups and down. One thing is certain, Colorado voters were in a spending mood which will result in Colorado property owners paying a lot more in taxes on everything, especially in Denver County.
Taxes in Denver will increase by $2400/year minimum for the median home. The biggest change is the repeal of the Gallagher amendment along with numerous bond and sales tax initiatives.
What does this mean for Colorado real estate?
How do Colorado Property taxes work now?
Under Colorado law there are amendments that govern how taxes are calculated. One of the major drivers of taxes is the Gallagher amendment. The Gallagher Amendment is like a balancing scale with two arms.