Colorado Legislature Passes Historic Property Tax Relief Bill

Governor Polis signs bipartisan bill reducing property tax rates and capping revenue growth after conservative groups withdraw ballot measures.

House Bill 1001 includes significant tax cuts for residential and commercial properties.
The bill caps local property tax revenue growth at 5.25%, down from the previous 5.5% cap.
Conservative groups agreed to withdraw more stringent ballot measures in exchange for the legislative compromise.
The new law is expected to save homeowners between $60 and $80 on their 2025 tax bills.
The agreement aims to provide tax stability and prevent future drastic measures for at least six years.