Colorado Proposition Hh 2024. Property values have increased significantly in most areas of the state, resulting in higher property taxes owed. Proposition hh, which polis and democrats championed, asked voters whether.
For property taxes paid in 2024 for the 2023 taxing year, the bill reduces the statewide assessment rate from the current 6.765% to 6.7%. Property values have increased significantly in most areas of the state, resulting in higher property taxes owed.
The State Legislature Referred Proposition Hh To The 2023 Ballot Which Would Have Reduced Property Tax Rates And Allowed The State To Retain And Spend Revenues.
Colorado proposition hh, which would have provided property tax relief at the cost of tabor refunds, was defeated in the 2023 statewide election.
For Commercial Properties, The Assessment Rate Would Be Reduced To 27.85%.
Colorado’s proposition hh, which deals with property taxes, was defeated tuesday.
Colorado Proposition Hh Election Results 2023:
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The Statewide Residential Assessment Rate, Which Helps Determine How Much Property Taxes Homeowners Owe, Would Fall To 6.7% From 6.765%.
The residential assessment rate would be reduced to 6.7% from 6.765% in 2023, for taxes owed in 2024, a roughly 1% cut.
Property Values Have Increased Significantly In Most Areas Of The State, Resulting In Higher Property Taxes Owed.
Opponents of proposition hh say their claim that the measure will eliminate refunds is based on the assumption that tax revenue will grow linearly.
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