The Colorado State Legislature referred two ballot measures concerning taxes and state revenue to the Nov. 2023 ballot before adjourning the legislative session on May 8.
Measures that can go on the ballot during odd-numbered years are limited to topics that concern taxes or state fiscal matters arising under TABOR, the Taxpayer’s Bill of Rights, including measures proposing new taxes, tax increases, and tax-related changes resulting in a net tax revenue gain, and that the state retain and spend state revenues that otherwise would be refunded for exceeding an estimate included in the ballot information booklet.
One measure, Proposition HH, would reduce property tax rates and allow the state to retain and spend revenues that would otherwise be refunded to residents under TABOR. Proposition HH would allocate this revenue to local governments for the purpose of making up lost tax revenues from the property tax rate reduction.
