By Michael Fields
A proposed property tax relief measure will soon be introduced in the Colorado Legislature.
This is an 11th hour attempt to rush through a wholly inadequate measure that is more about political talking points than providing significant and lasting property tax relief for Coloradans.
The proposed bill claims to provide tax relief, but it is temporary, addresses only half of the property tax equation and allows the assessment rate to rise over this year’s already high levels.
Worse, just like Proposition HH, it funds its provisions by tapping taxpayers’ TABOR refunds, requiring Coloradans to pay for their own tax relief. This shell game is one of the key reasons Proposition HH went down in a landslide.
Colorado taxpayers will quickly understand that this last-minute measure will not come close to providing the relief from soaring property taxes that they want and deserve.
The sure solution to preventing future property tax spikes is to permanently roll back taxes and then place a cap on future local revenue growth. We can protect local government, including our schools and first responders, and provide reasonable annual revenue growth.
But government should not grow faster than taxpayers’ wages.
Advance Colorado has already successfully placed Initiative 50 on the ballot, which would put in place a 4 percent revenue cap. This measure secured the required signatures in record time, demonstrating its deep popularity with voters. Under consideration are additional measures that would roll back the property tax increase and backfill revenue for public schools, first responders and other local entities.
Michael Fields is president, Advance Colorado.