Gov. Jared Polis Calls Special Session to Address Property Tax Crisis

Colorado lawmakers to convene on August 26 to finalize a bipartisan compromise aimed at halting two controversial ballot initiatives and providing significant tax relief.

• The special session seeks to prevent Propositions 108 and 50 from going to the November ballot.
• The compromise includes nearly $1.6 billion in annual tax savings for Colorado residents and businesses.
• Residential property tax rates will be cut to 6.3%-6.4%, and commercial rates to 25%.
• Local government revenue growth will be capped at 5.25%, and school districts at 6% or inflation, whichever is greater.
• Gov. Polis will not sign any legislation from the special session until the ballot initiatives are formally withdrawn.

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