February 21, 2023 at 6:01 a.m.
. This legislative session is the last chance for the legislature to put a fix in place to avoid that hike, barring the governor calling a special session later this year.This isn’t a radical solution. California’s 2% cap has been in place since they passed Proposition 13 in 1978. Florida and Oregon also have a cap, set at 3%, both of which have been in place since the 1990s.
Making matters worse, the impending increase is based on the assessed value of your property on June 30, 2022, leaving you to pay a tax bill that is based on your home’s value at the height of the housing boom. For those on a fixed income — such as our seniors — this 26.5% increase will be devastating. If Colorado’s housing market heats up again, they could continue to see massive increases in their taxes every two years. This doesn’t just apply to homeowners, either.
Oh Look, more approved thievery by those who think we know better than our own selves what we need and how to live our lives and justify their greed with the 'it's for your own good,' excuse.
Homeowners love property appreciation until they’re faced to pay property taxes on that appreciation. The city should supply property tax cuts to homeowners making less than a certain income, but everyone else needs to pay 🆙
CO has one of the lowest property taxes in the US. We either raise the tax and provide services or you get a state that lacks services and support with low property tax, not both. If we are not developing innovative housing we are on our way to widening the gap
My property tax bill was .00535 (i.e., slightly above one half of one percent) of my Denver condo's estimated market value, which seems pretty reasonable to me.
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