The Colorado House of Representatives passed a legislative measure to create a commission that would develop long-term solutions to rising property tax payments in the state.
The bill, HB23B-1003, passed by a vote of 39-21, according to a press release, and must be passed by the Senate to be placed before Gov. Jared Polis and signed into action.
If approved, the proposed measure aims to establish the Commission on Property Tax Task Force, which would be tasked with formulating plans for both long and short-term property tax relief.
The composition of the task force would include legislators, a property tax administrator, and various representatives from local government and community leadership.
The primary objective of the bill is to devise potential long-term solutions to address the upward trajectory of property taxes, particularly since the repeal of the Gallagher Amendment in 2020, as highlighted in the release from the Colorado General Assembly.
Representative Marc Snyder is the sponsor of the House bill, emphasizing that bringing together a task force comprising local and statewide leaders is crucial in developing effective solutions for property taxes, ultimately contributing to making the state more affordable. The Colorado House
Addressing the state’s affordability challenges necessitates a comprehensive approach to deliver both immediate and lasting property tax relief for the diligent residents of Colorado, all while safeguarding essential funding for schools, fire districts, and other vital services that Coloradans depend on. This statement was made by Representative Marc Snyder in a release, underscoring the need to balance the relief measures with the preservation of critical services.