Governor Polis calls special session to address property taxes after Prop HH fails

DENVER, Colo. (KRDO) - Governor Polis announced this morning that he is calling for a special session of the 74th General Assembly to address property taxes after Proposition HH failed to pass on Tuesday.

I will provide an update on Colorado's response at 10:15 a.m. MST this morning. The livestream will broadcast from my official Facebook page @Governor Jared Polis pic.twitter.com/OBHlwFC1ZI

— Governor Jared Polis (@GovofCO) November 9, 2023

Gov. Polis said that since Proposition HH failed on the ballot, he wants to address the high property taxes Coloradoans will face, forcing people to choose between necessities and property taxes. The special session will gather on Nov. 17, according to the executive order Gov. Polis signed.

Gov. Polis is tasking the legislature to tackle two specific and urgent issues during the special session:

First, to provide immediate relief for Coloradans at risk of receiving 40-50% increases in their property tax bill and to renters who may bear the burden of an increase that’s passed onto them through no fault of their own.

Gov. Polis said that the General Assembly already set aside $200 million for property tax relief that could be utilized right now, and Governor Polis is hopeful even more can be put toward saving people money. 

"We want to do everything we can to provide relief to homeowners,  to renters in the current year.  And I'm confident that the General Assembly, Republicans, and Democrats, will work together to achieve this important goal," Polis said in the press release this morning.

Senate Minority Leader Paul Lundeen says that he's looking for a more long-term solution.

"The State Senate should and the state House should be reducing the property tax rate and giving the people of Colorado direct sensible property tax relief," Lundeen said.

Right now, Colorado does not determine taxes on the appraised value of a person's home, but the assessed value. Property taxes are determined by assessed value and a rate -- which is over six percent right now, according to the Colorado Department of Local Affairs. Lundeen said he wants to work on reducing that rate in the long term.

Gov. Polis also wants that special session to address a recently passed federal law that provides Colorado with an opportunity to provide food and nutrition benefits to over 300,000 Colorado children during the summer months beginning as soon as the summer of 2024.

Gov Polis. said that passing legislation as soon as possible will enable us to stand up this critical program in time for this summer and access approximately $35 million in federal benefits. Working together in partnership with the legislature, over 300,000 Colorado children could gain access to summer meals if action is taken during this special session. 

The announcement can be watched above.