Colorado’s grand bargain on property taxes concluded Wednesday as Gov. Jared Polis signed a bill that further cuts commercial and residential rates, while a conservative group withdrew two contentious initiatives from the November ballot.
The legislature passed House Bill 1001 last week during its second property tax-focused special session in the past year. Polis called lawmakers back to the Capitol in mid-August to ratify the deal his office and legislative leaders had struck with Advance Colorado, a conservative advocacy group, and Colorado Concern, a business organization backing Advance Colorado’s ballot measures.
Politics
Colorado lawmakers pass deal to lower property taxes in special session
The deal called for additional property tax cuts, on top of larger reductions passed in May, in exchange for Advance Colorado removing two ballot measures that would have cut taxes more steeply and capped property tax growth more stringently for local governments and districts.
Polis had previously said he would not sign the bill into law until the two ballot measures — initiatives 50 and 108 — were formally pulled from the ballot. The Colorado Secretary of State’s Office confirmed Wednesday morning that both had been withdrawn.
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