(The Center Square) – A conservative advocacy group in Colorado has already submitted a ballot proposal for 2022 that would ask voters to approve reductions to property tax assessment rates, roughly one month after the 2020 general election.

Colorado Rising State Action hopes to lower the state’s residential property tax assessment rate by 0.65% – from 7.15% to 6.5%. The proposal would also lower the non-residential property tax assessment rate by 2 percentage points, from 29% to 27%. 

“Families and small businesses need a break – and the best way to help is by keeping property taxes low,” Colorado Rising State Action Executive Director Michael Fields said in a statement.  

The group opposed Amendment B, which Colorado voters passed in the general election by over 455,000 votes. The measure repeals the Gallagher Amendment and freezes the residential property tax rate at 7.15% and the non-residential property rate at 29%. 

Colorado Rising State Action noted in the statement that proponents of Amendment B argued the amendment burdened small businesses. 

“This is a primary reason for introducing this new ballot proposal to lower the assessment rate for both businesses and families,” the statement said. 

The property tax rate adjustments would take effect starting Jan. 1, 2023, under the proposal. 

Colorado Rising State Action also backed Proposition 117, which requires voter approval for the creation of any new state enterprises projected to collect over $100 million in fees or surcharges. The measure won by over five percentage points.

The group also supported Proposition 116, a measure lowering the state income tax rate from 4.63% to 4.55%, which voters also approved in November.