Gov. Polis ran for reelection on promises of saving people money and state lawmakers claim one of their top priorities this session is finding ways to make housing more affordable.
And yet they’re about to push homeowners and renters off a financial cliff when an enormous property tax bill of 26.5% comes due next year.
Lawmakers could have done something to stop it, and there’s still time. But they’re too busy banning gun discharges on private property and legalizing drug injection sites to enable addicts.
Michael Fields, president of the Advance Colorado Institute, writes in the Denver Post this week the government will collect an additional $3 billion in taxes next year.
That tax windfall for bureaucrats will come at the expense of seniors living on fixed incomes forced to sell their homes, and it means higher rents that will force some residents onto the rolls of the metro area homeless.
Fields explains:
This legislative session is the last chance for our elected leaders to avoid this crisis. They pledged and promised that once Gallagher was repealed, they’d work towards a long-term solution. Other projects took precedence, members termed out, and now Coloradans are about to reap what they sowed. Our state budget has ballooned by 24% over the last five years — from $34.5 billion to a projected $42.7 billion. Local governments are collecting more revenue than ever. These are clear indicators that this inflated property tax revenue isn’t necessary for our government to function.
We’re about to find out if our lawmakers really meant it when they promised to make life more affordable in Colorado, or if they’re planning to rob us blind.