Colorado lawmakers consider special session on property taxes
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The prospect of dueling ballot questions on property taxes is prompting Colorado Gov. Jared Polis to consider a special session to find a compromise.
Why it matters: Colorado lawmakers fear the two ballot measures — initiatives 50 and 108 — would dramatically limit property tax collections and put a major hole in state and local budgets.
State of play: Colorado lawmakers are considering permanently lowering property tax rates beyond the agreement reached at the end of the legislative session to satisfy critics who argued it didn't go far enough.
- A cap on future increases is another key component of the tax hikes.
What they're saying: Shelby Weiman, a Polis spokesperson, told CPR News the governor "is having conversations with all parties about how we can further reduce property taxes, decrease risk, build on the major tax cuts of the last two years, and continue saving people money on property taxes without undermining Colorado's future."
- State Sen. Robert Rodriquez (D-Denver) confirmed to Axios Denver the discussions are ongoing, but no deal has been reached.
Zoom in: The property tax relief approved by lawmakers in May represents about $1 billion less in collections, compared to a $3 billion cut from the two ballot measures.
- Polis and state lawmakers contend it would cripple the annual budget because the state would need to backfill reductions for local governments and schools.
The other side: Not everyone supports the idea of a special session. West Metro Fire Rescue chief Don Lombardi, wants to fight the ballot measures on the campaign trail and explain the negative impacts to fire fighting.
- He told CPR it's "appalling" that lawmakers are considering deeper property tax cuts at a time when fire fighters battle numerous blazes at one time.