A BI PARTISAN MEASURE TO CAP PROPERTY TAXES FOR COLORADO RESIDENTS WAS INTRODUCED IN DENVER MONDAY. IF PASSED IN ITS PRESENT FORM HOMEOWNERS WOULD SEE NO INCREASE IN PROPERTY TAXES THIS YEAR, AND IT WOULD REDUCE STATEWIDE LOCAL TAXES BY MORE THAN A 1 BILLION DOLLARS. BEGINNING IN 2025 THE MEASURE WOULD REDUCE PROPERTY TAXES BY 7 TO 10 PERCENT. A COLORADO HOMEOWNER WOULD SAVE AN AVERAGE OF 300 TO 400 DOLLARS A YEAR. AND IN 2025 AND BEYOND PROPERTY TAXES WOULD BE CAPPED AT 5.5 PERCENT. THE STATE EDUCATION FUND WOULD SEND 380 MILLION DOLLARS TO SCHOOL DISTRICTS, OFFSETTING THE REDUCTION IN PROPERTY TAXES TO SCHOOLS. THE MEASURE WILL NOW MOVE ON TO THE HOUSE.
