Gov. Jared Polis began his post-General Assembly bill-signing tour Monday by inking into law an effort to blunt the bite of rising property taxes and another that delayed a gasoline fee initially set to go into effect this year.
to shape property tax policy — gives state officials breathing room to find a longer-term solution.
Polis previously said he expects the law to save the owner of a $500,000 home about $274 a year and the owner of a $500,000 commercial property about $1,200. It does that by dropping the assessment rate from 29% to 27.9% for commercial properties, and from 6.95% to 6.765% for residential properties. The $200 million in tax refunds drew criticism from some Republicans who accused the Democrats of padding the deal with money already owed to taxpayers. Even at the bill signing, Hansen and Polis framed it as $700 million in tax relief, while fellow sponsor state Rep. Patrick Neville, a Castle Rock Republican, called it a half-billion-dollar cut.
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