Colorado passes property tax deal in special session

Published: Aug 29, 2024 Duration: 00:02:38 Category: News & Politics

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ABLE TO SQUEEZE OUT AN ISOLATED SHOWER IN THE COMING DAYS. ALL RIGHT. ALL DONE. THANK YOUR PROPERTY. TAX RELIEF COULD BE ON THE WAY AS A SPECIAL SESSION OF STATE CAPITOL HAS CONCLUDED LAWMAKERS WERE ABLE TO PASS A PROPERTY TAX DEAL NEGOTIATED BY THE GOVERNOR'S OFFICE AND 2 GROUPS THAT BROUGHT TO PROPERTY TAX MEASURES TO THE STATEWIDE BALLOT THIS YEAR. DEBORAH FRANKLIN HAS MORE FROM THE CAPITOL. >> GOOD THINGS ENDED PRETTY SMOOTHLY HERE AT THE STATE CAPITOL ON THE LAST DAY OF SPECIAL SESSION WITH BOTH SIDES SATISFIED THAT THE BULK OF THE COMPROMISE, THEY DIDN'T ACT. >> WE THINK THAT IT WAS GOOD. IT WAS REALLY CLOSE TO WHAT WE AGREED ON WITH OUR ORIGINAL FRAMEWORK IN THE COMING THROUGH THE PUBLIC WENT THROUGH THE TEST, FORCED TO THE TEST COMMISSION, WHATEVER THEY CALL SO YEAH, WE'RE HAPPY WITH OUT INTO FIELDS. IS THE PRESIDENT OF ADVANCED COLORADO AND A CHANNEL TO POLITICAL ANALYSTS ADVANCED COLORADO'S ON THE MAIN GROUPS BEHIND BALLOT INITIATIVES. WANT TO WAIT AND 50 INITIATIVES THAT LAWMAKERS SAY WOULD HAVE CUT FUNDING FOR LOCAL SERVICES THAT THE STATE CANNOT AFFORD TO PAY. WE ENDED A CYCLE OF DESTRUCTIVE BALLOT. >> INITIATIVES. WE HAVE AN AGREEMENT THAT THAT WILL CONTINUE FOR THE NEXT 3 CYCLE. SO AT LEAST UNTIL 2030. WE HAVE STOPPED. WHAT WE'RE GOING TO BE DEVASTATING BALLOT INITIATIVES BEING BROUGHT FORWARD BY SPECIAL INTEREST GROUPS IN THE STATE. AGREEMENT THAT SHOULD REMAIN ON THE TABLE AS LONG AS LAWMAKERS DON'T GO BACK ON THE PROVISIONS OF THE BILL. YOU KNOW, THERE'S A SURE AND THAT THE GOVERNOR IS GOING TO SIGN IT. I THINK THEY'LL BE SOMETHING HAPPENS ON THE SAME DAY WITHIN FEW HOURS OF EACH OTHER. I DON'T THINK THAT'S GOING TO BE AN ISSUE, BUT WE'RE DEFINITELY REMOVE OUR MEASURE. HE'S DEFINITELY GOT TO SIGN IT. AND I THINK THEY KNOW THAT'S THE CLARITY THAT PEOPLE NEED. THE CERTAINTY THAT PEOPLE NEED IS THAT THIS IS GOING TO HAPPEN. IT WILL HAPPEN IN THE NEXT FEW DAYS, THOUGH THE RATE CUT IS NOT AS BIG AS THE BALLOT INITIATIVE PROPOSE FIELDS AND SUPPORTERS FEEL THE COMPROMISE ON A 6.4% RESIDENTIAL RATE IS FAIR. >> AND THEY'RE PLEASED WITH THE CAP ON REVENUE GROWTH FOR LOCAL GOVERNMENTS TO DO GIVING LOCALITIES THE OPTION TO VOTE OUT OF THE CAP FIELD, SAYING THE FINAL PRODUCT STRIKES THE RIGHT BALANCE FOR ALL PARTIES INVOLVED. THEY'RE STILL GOING TO BE PIE. I WISH WE COULD CUT THEM EVEN MORE. THERE WILL BE A LITTLE BIT OF A CUT TO IT OVER THE NEXT FEW YEARS. BUT WHAT IT DOES IS IT STOPS ANOTHER INCREASE, RIGHT? SO THIS IS YOUR BILL IS NOT GOING TO GET 30, 40% HIGHER AGAIN, NOT IN THE NEXT COUPLE YEARS AND NOT EVER UNLESS YOU VOTE OUT OF IT. SO I THINK THAT THE RELEVANT THING IS THERE WAS A BIG SPIKE. YOU'RE GONNA SEE A LITTLE BIT OF RELIEF. NOW YOU'RE GONNA MAKE SURE IT DOESN'T GO UP IN THE NEAR FUTURE AND THEN THE CAPS MAKE SURE IT DOESN'T GO UP IN THE DISTANT FUTURE. >> AND FOR THE MOST PART, LAWMAKERS ON BOTH SIDES OF THE ARE HAPPY THAT THE SPECIAL SESSION IS OVER. THEY SAY THAT THEY KNOW THAT THERE IS STILL MORE WORK TO BE DONE AND THEY LOOK FORWARD 2 FUNDING AREAS THAT NEED MORE FUNDING AS A

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