Capital Review

Property taxes remain a hot topic in Colorado and rightly so. During COVID, economists expected home values to fall as the economy experienced a sharp recession. So in 2020, the legislature asked voters to eliminate a 40-year-old law that prevented property taxes from rising in unison with the value of that property. Voters agreed.

Then something strange happened: the COVID recession was brief and instead of tanking, home prices soared because few homes were offered for sale. Without the 40-year-old Gallagher amendment to limit residential property taxes, homeowners’ tax bills exploded along w...