Business leaders and politicians who were at odds over tax issues have now united to stop Colorado’s property tax hike, with the goal of setting a cap on property taxes and starting a permanent tax cut next year.
CBS reported on the 12th that business executives and political leaders, who also have great influence, previously took opposite stances on the tax bill, but now they have united to launch it.ReferendumThe draft aims to introduce a permanent and effective tax cut and set a cap for property taxes from next year.
According to the proposal, the annual increase in property tax collected by local governments is capped at 4%, and the property tax rate should also be adjusted according to the tax surplus. The residential property tax rate will be reduced from the current 6.7% to at least 5.7%, and the taxable value of the house will be reduced to 55,000 yuan; The commercial property tax rate will be reduced from 29% to 25.5%.
The resolution states that legislation shall be passed to provide for local governments,school Districtand education program funding due to property tax changes.BudgetMoney to fill the shortage.
Dave DeVia, president of Colorado Concern, the state’s largest business executive organization, said the proposal would save $236 in annual property taxes on a home valued at $300,000.
“We care about teachers, we care about firefighters, we care about local government and we believe this is a fair and balanced package,” DeVia said.