Governor Jared Polis Signs Property Tax Relief Bill into Law
Governor Jared Polis signed a new property tax bill into law yesterday, following its passage during a special session of the general assembly. The session was convened by the governor to address the issue of rising property taxes in Colorado.
According to the governor’s office, the new law lowers property assessment rates and slightly reduces revenue caps while raising school revenue sharing rates. The bill is part of a broader agreement reached by legislators to prevent two tax-cutting initiatives from appearing on the November ballot.
The goal of the legislation is to offer relief to property owners while maintaining necessary funding for public services, including education.
