Colorado Senate passes bill allowing local government property tax credits | Colorado

(The Center Square) – The Colorado Senate on Wednesday unanimously licensed a bill that, if made regulation, would pave the best way for local governments to provide their taxpayers both brief property tax credits or mill levy discounts.

Lawmakers backing Senate Bill 23-108 say it is going to supply brief tax aid when Coloradans are feeling endured inflationary drive.

“Coloradans continue to struggle financially, and that is why I am very glad to see this bill pass in the Senate,” mentioned Sen. Mark Baisley, R-Woodland Park, probably the most bill sponsors. “By allowing local governments to temporarily reduce mill levies, we are creating a real opportunity to support Coloradans during this affordability crisis created by unfortunate liberal policies.”

SB 23-108 states that so as “to provide property tax relief by a temporary reduction in property taxes due, any local government may approve and certify a temporary property tax credit or temporary mill levy rate reduction” as set forth within the regulation.

The shopper worth index for the Denver metro space greater through 6.4% between January 2022 and January 2023, according to the U.S. Bureau of Labor Statistics.

The bill has the fortify of the Colorado Municipal League, which testified in prefer of the bill earlier than it handed the Senate State, Veterans & Military Affairs Committee previous final month.

SB 23-108 now heads to the Colorado House, the place its subsidized through Rep. Rose Pugliese, R-Colorado Springs, and Rep. Lisa Frizell, R-Castle Rock.


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