Hello JeffCo and Colorado Property Taxpayers,
The Taxpayer Bill of Rights (TABOR), passed by the voters in 1992, specifically allows the governing body, in this case the state legislature, to ask the voters on how to spend and/or return TABOR “surplus” funds. The proposed senior exemption change and the TABOR reallocation of “surplus” funds must be voted on since they are defined in the Colorado Constitution.
Proposition HH was added to the November 2023 ballot by the state legislature this year late in the legislative session to address the 30%-70% increase of property tax assessments statewide. Jefferson County government (the Board of County Commissioners) has not taken a formal position on Proposition HH. I’ll be voting YES on Proposition HH in the November 2023 election.
The fate of better property tax policy will be in the hands of Colorado voters this November. Two bills passed the state legislature – Senate Bill 23-303 and Senate Bill 23-304, or Proposition HH. As a taxpayer and as your JeffCo Treasurer, I supported both bills during the legislative session.
If Prop HH passes this November, the assessment amount on properties will be reduced by $50,000 in 2024 ($40,000 in subsequent years) and the assessment rate will also be reduced to 6.7%. For example, based on the preliminary new assessments, my property taxes will increase by approximately $1000. If HH passes, my tax increase will be reduced to approximately $300.
Prop HH will also allow the senior exemption to be carried over to a new purchase, such as downsizing. The senior will not have to wait another 10 years to apply for the senior exemption. This is one change that I’ve been advocating for since 2019.
Information Concerning SB 23-303 and Prop HH:
If business property taxes or rental property taxes increase, that dollar amount is usually passed on to the consumer or the renter in the form of higher rents. Landlords generally do not “eat” property tax increases, but rather pass the increase onto their tenants. If the state legislature and local governments want to encourage affordable housing and to support small business owners, allowing property taxes to increase 30%-70% is not the answer. In my opinion, passing Proposition HH does support consumers, renters and affordable housing.
I would rather use a small portion of my future state TABOR refund to reduce the money I owe on property taxes, and be used to back-fill the special districts (schools, fire, etc…). In my opinion, the state already has my money, so use it again to reduce my property tax burden, and reduce the tax burden for other Coloradans.
See Link: https://www.coloradopolitics.com/legislature/colorado-property-tax-relief-republicans-walk-out/article_004fb560-ede5-11ed-b0bc-ef2f6a15aa17.html?utm_medium=social&utm_source=twitter&utm_campaign=user-share
The Bell Policy Center Supports Proposition HH: Property Tax Relief
See CBS4 Colorado Interview (DiTullio):