Polis: ‘The people of Colorado should not have to face a 40% increase of property taxes’

Colorado lawmakers begin a 3-day special session to deal with skyrocketing property taxes. 

Governor Jared Polis said, “The people of Colorado should not have to face a 40% increase of property taxes.” Polis said Proposition HH would have prevented that, but voters rejected it. After its defeat, Polis called a special session. 

Democrats outlined their plans Thursday, Nov. 16th. They want to increase property value exemptions from $15,000 to $50,000. Democrats also want to lower the residential assessment rate for homeowners. 

Republicans are calling for deeper cuts in the assessment rates. One version of the Republican plan also cuts the state income tax rate.