Taxes

Conservative advocacy group submits ballot proposal to lower Colorado's property tax assessment rates

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(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%.