TABOR refunds on special session agenda despite Proposition HH defeat
Although Coloradans last week overwhelmingly told Gov. Jared Polis and lawmakers that they do not want their Taxpayer’s Bill of Rights (TABOR) refunds messed with, it appears no one was listening, as Polis has opened the door for majority Democrats in the legislature to turn a blind eye to voter intent.
Just days after voters rejected Proposition HH, Polis called for an executive session, which is scheduled to begin Nov. 17, and gave direction on passing property tax relief that includes paying for it with TABOR refunds.
“The General Assembly should consider taking legislative action to create a property tax relief package … This could include but is not limited to changes to reserve policy, general fund, and TABOR tax refund mechanisms,” Polis’ executive order reads in part.
A pre-draft document obtained by Complete Colorado shows that Rep. Chris DeGruy Kennedy, D-Littleton is planning to do just that. The bill is expected to use TABOR surplus funds to backfill local governments — despite that with or without legislative action, all governments will get a large boost in revenue from ever-growing property values — expand the Colorado Earned Income Tax Credit (COEITC) and give community organizations money under the guise of rental relief. However, all the tax credits come along with keeping the current assessment rates on everything except multifamily housing the same (which is only proposed to be lowered by .065 of one percent) and expanding exemptions on single-family houses and commercial property by minimal amounts.