(The Center Square) – Two Colorado groups are joining efforts on a ballot measure that proposes cutting property tax assessment rates and capping tax increases at 4%.
The measure was filed last week by Colorado Concern, a group of business executives, and Advance Colorado, a conservative advocacy organization. The measure would reduce property tax rates and cap revenue from future property tax increases at 4%. Governments seeking to collect more than 4% would require voter approval. The proposal also would allocate 75% of the tax relief to residential and homeowners and give the remaining 25% to businesses.
“Our ballot measure is balanced and thoughtful – we very intentionally protected funding increases for teachers, firefighters and other local districts, but we did so in a way that will end these crushing property tax increases once and for all,” Colorado Concern CEO Dave Davia said in a statement announcing the initiative and the partnership. “We’re going to build a broad-based campaign, and we fully expect the voters of Colorado to resoundingly support the plan in November.”