BRECKENRIDGE - Today, at Colorado Mountain College’s Breckenridge campus, Governor Polis discussed the property tax relief provided to Coloradans during the 74th General Assembly’s special session and highlighted the importance of action from local governments to provide even further relief for hardworking Coloradans.
“We have delivered immediate statewide property tax relief and set the stage for long-term solutions through the creation of a bipartisan task force. Now our local governments and districts have the ability to provide further immediate relief. I urge local governments to take action, saving Coloradans money and helping keep our communities affordable,” said Governor Polis.
The recent successful special legislative session led to the approval of new laws delivering historic property tax relief that, combined with previously passed property tax relief, will subtract $55,000 per home from state property tax valuation and reduce the residential assessment rate to 6.7%. Coloradans living in a $500,000 home will save an average of about $505 on their 2023 property tax bill from statewide efforts.
On Wednesday, Governor Polis urged local governments to build on this work by utilizing recent legislation he signed that allows local governments to temporarily lower tax rates.
Colorado Mountain College is one of many special districts that plan to reduce their mill levy to keep revenue growth near inflation (5.7) providing relief to Coloradans in Eagle, Lake, Garfield, Pitkin, Summit, and Routt counties.
“I applaud Colorado Mountain College’s special district for providing community members with property tax relief. I encourage other local districts to follow their lead," added Governor Polis.
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