Colorado lawmakers roll out plan to cut property taxes - Denver Business Journal

Hey, so I just read an article about how the lawmakers in Colorado are planning to chop down property taxes. It’s crazy, right? Property taxes can really hit hard on people’s wallets, so I’m glad they’re finally doing something about it.

Basically, there’s this new proposal that’s being pitched by a bunch of lawmakers. The plan is to reduce the residential property tax rate by 18% and the non-residential rate by 30%. That’s a pretty decent savings for a lot of people, especially those who own commercial property.

Of course, this isn’t just some random act of kindness. Apparently, there’s a legal requirement for property assessors to maintain a certain balance between residential and non-residential property values. This balance has been messed up for a while now, and this plan aims to fix it by increasing the value of non-residential property. In turn, this would lead to a reduced tax rate for both residential and non-residential property owners.

Personally, I think it’s about time this happened. I know plenty of people (including myself) who have been hit hard by property taxes before. It’s just not fair to put such a heavy burden on homeowners and business owners. I hope this plan gets approved soon, so we can all breathe a little easier.

Overall, I think this article is important because it highlights a significant issue that affects a lot of people. If this proposal goes through, it could have a big impact on the lives of Colorado residents. It’s important to stay informed about these kinds of changes, so we can adjust our budgets accordingly and make the most of our finances.