By Ed Sealover | The Sum & Substance
Colorado legislators appear headed for another debate about lowering property taxes after an influential commission largely backed a compromise plan Monday to cut taxes further if backers of two wide-ranging initiatives removed the measures from the November ballot.
It’s not an absolute certainty that Gov. Jared Polis would call a special session to consider the framework deal agreed to by initiative proponents Colorado Concern and Advance Colorado with legislators and other officials who have been involved in negotiations. But with Polis having signaled a willingness to consider the idea and with the governor-backed Commission on Property Tax getting some level of support from most of its members to the general details in the plan, pressure is building to avoid a pricey ballot battle.
Initiative proponents too may be looking for a way to avoid unknown results at the ballot, particularly after business leaders such as homebuilders and developers — who normally would back property-tax cuts — warned in recent weeks that Initiatives 50 and 108 could stifle the bond market and slow new residential construction significantly. While Advance Colorado President Michael Fields did not speak at Monday’s commission meeting, Sen. Barbara Kirkmeyer, the Brighton Republican involved in negotiations, said repeatedly that he’s committed to pull the initiatives down if the deal passes.