SIGNED! Bill to Develop Long-Term Property Tax Solutions

Legislation creates a bipartisan commission to identify long-term solutions to rising property taxes

DENVER, CO – Governor Jared Polis today signed legislation sponsored by Senate President Steve Fenberg, D-Boulder, Senator Kyle Mullica, D-Thornton, and Representative Marc Snyder, D-Manitou Springs, that creates a bipartisan commission to develop long-term solutions to rising property taxes in Colorado.

HB23B-1003 creates the Commission on Property Tax to outline plans for long and short-term property tax relief and to evaluate property tax ballot initiatives filings for the 2024 election. The bipartisan Commission includes legislators, county commissioners from across the state, a property tax administrator and different local government, business, and community leaders representing constituencies impacted by property tax revenue. The goal of HB23B-1003 is to map out potential long-term solutions to property taxes that have been rising since Coloradans voted to repeal the Gallagher Amendment in 2020.

“Steep property tax increases over the past several years have hit Colorado homeowners hard, especially economically vulnerable folks like seniors and those on fixed incomes,” Fenberg said. “The legislation we passed during the special session delivers meaningful short-term relief, but this is not a short-term problem. We’re committed to working in a bipartisan way to find long-term, comprehensive solutions to address property taxes in Colorado, and this task force ensures we’ll do so hand in hand with partners across the state.”

“I’m proud of the responsible property tax relief we delivered for Coloradans this special session and look forward to more long-term solutions that will make our state more affordable,” said Snyder. “The task force, outlined in my legislation, will be composed of bipartisan local and statewide leaders and will develop ongoing short-term and long-term solutions to rising property taxes. Everyone deserves to thrive in their communities, and this law is an important step forward in our mission to create a Colorado everyone can afford.”

“Democrats have worked hard to meet the moment and answer the Governor’s special session call by delivering short-term property tax relief to Coloradans,” said Mullica. “Steep property tax increases have stretched families’ budgets for several years now, and if we don’t find a long-term solution it’s only going to get worse. That’s why I’m working on legislation that will convene a bipartisan Commission made up of balanced representation to develop long-term, transformational solutions to rising property taxes that will make Colorado more affordable in the years to come.”

Under HB23B-1003, the Commission will convene by the week of December 18, 2023, and deliver an initial report to the General Assembly and Governor by March 15, 2024.