"Polis and Democrats propose 10-year plan to curb property tax hikes in Colorado"

Colorado Governor Jared Polis and Democrats in the state legislature have unveiled a 10-year plan aimed at preventing property taxes from rising too quickly. The plan would reduce Taxpayer’s Bill of Rights refunds to combat a rise in property values that will cause a corresponding jump in homeowners’ and businesses’ tax burden. Proponents of the measure say it would cut the projected property tax increase for the average Colorado homeowner by 62% in the 2023 tax year. The plan would reduce the statewide residential assessment rate and cut the assessment rates for commercial property. The proposal only needs the support of a simple majority in the legislature to get on the November ballot.