The Property Tax Assessment Rate Reduction Proposition would: lower the property tax assessment rate for non-residential property from 29% to 26.4%, and lower the property tax assessment rate for residential property from 7.1% to 6.5%.
This reduction would cut needed public funding -- an estimated $45 million in its first year -- for local government services that all Coloradans rely on, such as schools, fire departments, and police departments. In sum, this proposition would have the effect of primarily benefitting wealthy property owners while robbing funding from crucial public investments like education and infrastructure. When public programs such as these are continually underfunded, the most marginalized in our communities are consistently disproportionally harmed.
The Property Tax Assessment Rate Reduction Proposition would: lower the property tax assessment rate for non-residential property from 29% to 26.4%, and lower the property tax assessment rate for residential property from 7.1% to 6.5%.
This reduction would cut needed public funding -- an estimated $45 million in its first year -- for local government services that all Coloradans rely on, such as schools, fire departments, and police departments. In sum, this proposition would have the effect of primarily benefitting wealthy property owners while robbing funding from crucial public investments like education and infrastructure. When public programs such as these are continually underfunded, the most marginalized in our communities are consistently disproportionally harmed.