A YES vote supports APPROVAL: If approved, Proposition HH would reduce property valuation rates over the next decade and allow property owners to exempt part of their property’s value from taxation. Property tax revenue funds schools, libraries, fire departments and ambulance services in some local communities, so the measure would also reduce the money available for refunds under the Taxpayer Bill of Rights, or TABOR, to help the state pay for the loss in tax revenue. Proposition HH is a response to a predicted spike in this year’s property taxes, which will be due next spring, and a continued increase over subsequent years, driven by rising property values.
This page, put together by nonpartisan legislative council staff, calculates how Proposition HH will impact individual taxpayers: https://hhcalc.apps.coleg.gov/calculators?locale=en
A NO vote supports REJECTION: If rejected, current property tax law will not change. Critics of Proposition HH oppose the cuts it makes to the money available for TABOR refunds. However, the measure’s sponsors say the impacts on most Coloradans would be minimal. TABOR refunds would still increase next year, and over the following two years, they would be reduced by less than a hundred dollars for most Coloradans. The money retained by the government would go to the state education fund. Also, despite assurances to the contrary from the measure’s sponsors, there are lingering concerns that cash-strapped local services will see adverse impacts on their property tax revenue.
A YES vote supports APPROVAL: If approved, Proposition II would let the state keep more of the money it gets from taxes on tobacco and nicotine sales. Back in 2020, Colorado voters approved a tax increase for tobacco and nicotine products in order to fund the state’s universal preschool program, but the increase generated almost $24 million more tax revenue than officials expected. Proposition II is asking voters to allow the state to keep the excess and retain all future revenue from the taxes. All of that money would be required to go towards expanding the preschool program.
A NO vote supports REJECTION: If it’s rejected, the extra revenue would be given back to tobacco and nicotine wholesalers and distributors. Additionally, the taxes would be cut in order to eliminate excess revenue going forward. The Taxpayers Bill of Rights, or TABOR, mandates through the state Constitution that excess tax revenue is refunded unless voters let the government keep it.