Colorado legislature aims to finalize property tax relief, other aid

The Colorado House passed Democrats’ main property tax relief bill on Monday morning, with SB23B-001 passing on a party-line vote of 42-18. The bill will now return to the Senate for final reconciliation after a House committee passed an amendment on the legislation on Sunday. The Colorado Senate also passed HB23B-001, a bill creating an emergency rental assistance program to help low-income renters facing evictions. The bill will now head to the governor’s desk for a final signature.

Lawmakers have returned to the State Capitol on the fourth day of a special session aimed at providing relief from skyrocketing property taxes, rents, and other cost-of-living expenses for Coloradans. The House and Senate both reconvened and have five bills scheduled for final floor votes, with discussions to reconcile details between the versions passed by each chamber if needed.

The remaining bills include a property tax task force to recommend tax reforms and proposals to reduce property taxes, and one to increase the state’s allocation for a rental assistance program by $30 million. The governor called the special session after voters rejected Proposition HH, which targeted a reduction in homeowners’ upcoming property taxes due to surging property values across the state. The major property tax relief bill, heavily opposed by Republicans, passed the Senate on Sunday and is set to be heard in the House.

These relief proposals include direct property tax cuts, a flat TABOR refunds system, a doubling EITC match, and additional funds for rental assistance. The historic fight over property taxes and relief measures in Colorado has led to a special session aimed at finding ways to provide financial relief to residents to address the rising cost of living.

As the House and Senate consider the remaining bills, discussions and debates continue to shape the future of property tax relief in Colorado. The outcome of these measures will have a significant impact on homeowners, renters, and overall cost-of-living expenses in the state. Stay tuned for further updates as the legislative session progresses.