By Jesse Paul and Brian Eason | The Colorado Sun
Colorado’s property tax code would be reimagined — with long-term rate cuts for homeowners and businesses and a local revenue cap — under a fiercely negotiated, last-minute bipartisan bill introduced in the legislature Monday that aims to provide tax relief while protecting funding for K-12 schools.
The measure, Senate Bill 233, comes with just three days left in Colorado’s 2024 legislative session — the minimum amount of time needed to pass a bill. And it was the product of negotiations with Colorado Concern, a nonprofit representing CEOs in the state that was working on a plan to ask voters on the November ballot for an even bigger property tax break.
Lawmakers, Gov. Jared Polis’ office and interest groups were working through the weekend with Colorado Concern to reach an agreement. The nonprofit said a deal hasn’t been reached yet, but that it’s continuing to work with lawmakers on Senate Bill 233 and will continue its ballot measure push in the meantime.