Ballot Question: Shall the state reduce property taxes for homes and businesses, including expanding property tax relief for seniors, and backfill counties, water districts, fire districts, ambulance and hospital districts, and other local governments and fund school districts by using a portion of the state surplus up to the proposition HH cap as defined in this measure?
Proposition HH, if approved, would:
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lower property taxes owed for homes and businesses for at least ten years, compared to what would be owed under current law;
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allow the state to retain money that would otherwise be refunded to taxpayers under the Taxpayer’s Bill of Rights (TABOR) through at least 2032;
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authorize the state legislature to retain revenue after 2032 without further voter approval, if property tax decreases equivalent to those in the measure are maintained;
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allow the retained revenue to be spent on education, reimbursements to local governments for some of their reduced property tax revenue and rental assistance programs;
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distribute TABOR refunds to taxpayers in equal amounts for tax year 2023 only; and
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create a new limit on the growth of property tax revenue for most local governments.
What Your Vote Means
A “yes” vote on Proposition HH lowers property taxes owed, allows the state to keep additional money that would otherwise be refunded to taxpayers, temporarily changes how taxpayer TABOR refunds are distributed, and creates a new property tax limit for most local governments.
A “no” vote on Proposition HH maintains current law for property taxes, TABOR refunds, and state and local government revenue limits