Hello Colorado/JeffCo Property Taxpayers,
TABOR 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.
I’ll be voting YES on Proposition HH in the November 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 JeffCo Treasurer, I supported both bills.
If Prop HH passes this November, the assessment amount on properties will be reduced by $50,000 and the assessment rate will also be reduced to 6.7%. For example, based on the preliminary new numbers, my property taxes will increase by approximately $1000 per year. If the ballot question passes, my tax increase will be reduced to approximately $300 per year.
Most recent Information Concerning SB23-303 and Prop HH:
If business property taxes go up, or rental property taxes go up, that dollar amount is usually passed on to the consumer. If the state legislature wants encourage affordable housing and supporting small business owners, allowing property taxes to increase 35%-50% is not the answer.
I would rather my future TABOR refund (a small portion in comparison) from the state 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 tax burden, and 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
If approved by the voters, Prop HH will also allow the senior exemption to be carried over to a new purchase or downsizing. The senior will not have to wait another 10 years. This is one change that I’ve been advocating for since 2019.
See CBS4 Colorado Interview (DiTullio):
See Gov Polis Interview on Property Taxes: