BY FREDA MIKLIN
It was announced on October 17 that Colorado Gov. Jared Polis and Arthur Laffer, an American economist and holder of the Presidential Medal of Freedom, will debate the merits of Proposition HH with Colorado Rep. Rose Pugliese (R-El Paso County) Assistant Minority Leader, and Michael Fields, president of Advance Colorado Institute, on Monday, October 23 at 7:00 p.m.
The debate is being hosted by 9News, Colorado Politics, and the Denver Gazette. The location of the event was not announced, nor whether it will be open to the public. Both 9News and the Denver Gazette will live-stream it from their websites.
Proposition HH, appearing on the ballots all Coloradans are receiving in their mail this week, was referred to the voters by the general assembly after Coloradans started seeing their new, much higher property values.
If passed, it will reduce the assessment rate and the assessed value of owner-occupied, senior, and multi-family housing for property tax purposes starting next year and going through 2032.
Proposition HH would also allow the state to increase the amount of revenue that it can keep, rather than return as TABOR refunds, by 1% over the present cap on that amount, for ten years. The extra money would go to local governments whose property tax receipts went down due to this measure. Any additional funds would be used for K-12 education, though the language doesn’t specify exactly how it would be directed.
Another bill that would go into effect if this measure passes would provide a one-time TABOR refund payment of $833 per person, $1666 for couples filing jointly, regardless of income level.