Colorado lawmakers back at work for special session on property taxes

COLORADO (KRDO) - Colorado state lawmakers are back at work for a special session that began Monday morning.

The topic at hand: rising property tax rates and a pair of larger tax-cut initiatives set to appear on the November ballot.

Around a dozen bills were put forth by legislators on the first day and most of them center around a policy compromise regarding property taxes; specifically to reduce rates.

While many leaders say something needs to be done now, not all members agree on the deals that have been put forth.

"We're back here now to see what we can do to not only give a more immediate relief to some of these folks who are experiencing skyrocketing property tax bills, but also create a sustainable bill, predictable path down the road in the future," Democratic Rep. Marc Snyder said.

This is the second special session meant to tackle property taxes, in less than a year.

"A lot of programs that people have come to rely on that really benefits them in their lives, would have to be then be reconsidered and it might be on the chopping block," Snyder said.

He is referring to Initiative 50, which is a proposed constitutional change to cap property tax growth at 4% statewide. As well as, Initiative 108 that cuts property taxes on homeowners and businesses by an estimated $2.4 billion.

"Colorado is not a one size fits all state. I really would like to see us focus more on the individuals," Snyder said.

Some leaders say the solution is building on a bipartisan bill that was passed earlier this year, but others disagree.

"233 was a step in the right direction, but really all it did was lower how much your property tax was going up. so it was still going up. and so now i think we got ourselves selves in this situation where it's going to kind of go all or nothing and we need to to make that compromise." Republican Rep. Don Wilson said.

Now, lawmakers must decide whether to sign on to the wishes of Governor Polis, or let Colorado voters make the decision come November.

The minimum time it takes to pass a bill in Colorado’s legislature is three days. So, this debate will play out until at least this Wednesday.