On November 7, 2023 Colorado voters will approve or reject Proposition HH, Property Tax Changes and Revenue Change Measures. Proposition HH was referred to the ballot by the State Legislature following the passage of SB23-303.
As the title suggests, Proposition HH is a complex proposal. It modifies or reduces taxation rates and exemptions for multiple types of property while at the same time increases taxes by allowing the state to retain more tax revenue. It would distribute excess revenue to school districts and other government entities without new stipulations.
Proposition HH gives Coloradans a choice; trade some property tax relief, for a long-term increase in state taxes. Though any revenue forecast is uncertain, under normal economic conditions taxpayers would bear the full tax increases under Proposition HH even if the economy faced a sizeable downturn. While all Coloradoans benefit from TABOR refunds, only property owners would see direct benefits of the property tax decrease. Our full report can be found here.
Host and Chairman Earl Wright welcomes former Governor of Colorado Bill Owens, and CSI Vice President of Policy Research Chris Brown to the podcast to discuss Proposition HH, its origins, its espoused goals, what the implications are for the future of property taxes, TABOR, and school funding, and much more. Every Coloradan will be impacted by the passage or defeat of Proposition HH, which makes this episode a must-listen.
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Bill Owens served as the 40th Governor of Colorado from 1999-2007 and is a member of GreenbergTraurig’s Government Law & Policy Practice Group. Prior to his service as Governor, Bill was Colorado State Treasurer where he managed a $5 billion investment portfolio. He also served in the State Senate and State House. He focuses his practice in the areas of public policy, energy, infrastructure and water.
Chris Brown is the Vice President of Policy and Research for the Common Sense Institute.