Colorado Democrats' Property Tax Plan Approved in Late Night Session

Colorado Democrats are nearing the completion of their property tax relief plan, with two bills already heading to Governor Jared Polis for signing. The bills aim to provide economic aid to lower-income Coloradans and address housing and cost issues for homeowners and renters. Republicans have criticized the Democrats for not offering enough property tax relief and for including other bills unrelated to property taxes. The primary tax relief bill, which would decrease a home's value for taxation purposes, has cleared the Senate and is advancing through the House. Democrats argue that the relief plan is a compromise, while Republicans believe more relief should be provided. The funding for the property tax cuts is expected to come from the general fund, not the state's TABOR surplus. Other bills, including rental aid and a task force for long-term property tax solutions, are also expected to pass.