A new study shows that passing Prop HH, which claims to offer property tax relief, won’t stop expected increases.
The Denver Gazette: reports on the new analysis from the Common Sense Institute.
Denver’s median home price of $681,243 pays $2,968 in property taxes in 2022, and $3,815 in 2023, according to numbers provided by Common Sense Institute. Numbers show that if Proposition HH were approved, that number would be $3,580 – still a 21% increase from 2022 – instead of 29%.
Meanwhile, the state would be taking huge bites out of everyone’s Taxpayer Bill of Rights refund (TABOR), claiming that money is needed to make up for the money they hoped to be getting from inflated property taxes.
The bottom line is, property taxes were wildly inflated during Bidenflation, and the government expects to make a profit from your increased tax bill.
The Democrat-controlled legislature should have acted, and still needs to, to pass a temporary adjustment without taking a huge kickback in extra taxes for their effort.