(CBS4) – Colorado voters are deciding three statewide points within the off-year election. Proposition 120 would have lowered property tax charges within the state. It was written to drop the residential property tax price to six.5% and the industrial price to 26.4%.
As of 10 p.m., 57% of voters are rejecting it.
Some state lawmakers didn’t the modifications and re-wrote the tax code in such a manner the poll measure solely applies to multi-family houses like house buildings and lodging properties like accommodations and mattress and breakfasts. That’s why the wording on the poll is totally different from the evaluation within the blue e book.
Owners and industrial property house owners would have reduced in size, non permanent tax reductions for 2 years.
Supporters say if the measure passes they’ll sue to ensure the poll language is upheld. Political Specialist Shaun Boyd says authorized precedent is on their aspect.
https://denver.cbslocal.com/2021/11/02/colorado-votes-on-confusing-property-tax-measure-with-proposition-120/ | Colorado Votes On Complicated Property Tax Measure With Proposition 120 – CBS Denver