COLORADO — Governor Jared Polis signed a property tax bill into law Wednesday. The measures passed during a special session of the general assembly, which was called by the governor to address high taxes.
According to the governor's office, the bill lowers assessment rates and slightly lowers revenue caps. It also raises school revenue sharing rates.
Proponents say they are committed to protecting funding for institutions such as the following:
- schools
- parks
- libraries
This bill was part of a deal struck by legislators to keep two initiatives off of the November ballot, aiming to cut taxes.
You can learn more about how property taxes are calculated in Colorado below:
How are property taxes calculated in CO? It's changed
___
Is it 'truly' affordable to live in Colorado Springs?
How easy is it to find an affordable home? If someone earns $51,000 a year and a third of their income goes to rent, they would need to find an apartment for about $1,280 a month. News5's Eleanor Sheahan takes you on a journey searching for this answer.
____
Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.
