"Gov. Polis Signs Property Tax Relief Bill, Delivering Benefits for Low-Income Families"

Colorado Governor Jared Polis has signed a property tax relief bill into law after a four-day special session. The bill, sponsored by Democrats, increases the exemption for homeowners from $15,000 to $55,000, providing over $400 million in tax relief. Republicans had their own plans, but the Democrats had the votes. The legislation also establishes a commission to study the issue of property tax increases in the long term. The bill aims to protect funding for local services such as public safety departments, schools, and libraries.