Coloradans have several options to try to address rising property taxes in 2024.
The state legislature passed SB24-233 with bipartisan support at the end of the 2024 legislative session. Voters could choose to keep SB24-233 or eschew the bill for either or both Initiatives 50 and 108.
Despite being a better alternative than if no legislation had been passed in 2024, property taxes would still rise in 2025 under SB24-233. Meant to head-off future acute property tax spikes rather than cut existing taxes, the new law modestly reduces both residential and non-residential assessment rates and adopts a 5.5 percent limit on revenue growth for some local districts. As a result, most Coloradans would still see their property taxes increase, albeit less than they would if the bill had not been passed.
