Proposition HH aims to increase the state’s cap on tax collection and reduce the tax burden on property owners. The measure will be put to a vote in November.
Advocates project that the measure could reduce property owners’ tax burden by hundreds of dollars per year. Opponents say the measure will cause a $10 billion dollar loss in Taxpayer’s Bill of Rights (TABOR) refunds over the next 10 years.
The proposal aims to modify the formula established by TABOR for determining the amount of tax money the state can retain, as well as adjust the refund mechanism for overcollections. More information is here.
