FOR IMMEDIATE RELEASE
FACT CHECK: Prop HH Saves Money and Preserves TABOR Refunds
Denver, CO – The far right special interests behind the effort to oppose Prop HH are trying to intentionally mislead voters with a new TV ad that spreads misinformation about the cost-saving measure. The dishonest ad opens with partisan quotes about HH from right wing politicians and goes into a string of fabricated lies meant to confuse voters.
Here are the facts:
CLAIM: “Under HH, property taxes still skyrocket…”
FACT: Property taxes are going up because of increased home values. Prop HH cuts the pending property tax increase in half.
According to the Colorado Sun, “property taxes aren’t rising in Colorado because the statewide assessment rate is rising or because local governments are increasing their mills. They’re going up because home values have risen by a median of 40% statewide since 2021, the last time they were assessed.”
A report by the Colorado Fiscal Institute cuts the pending increase in half. For example, a home worth $700,000 would see their property tax go up from $3,649 (2022) to $4,719 (2023) - which is a $1,070 increase. With HH, the property tax would be reduced by $527 and the total tax would be $4,192.
CLAIM: “And HH guts the tax payer’s bill of rights. HH will end taxpayer refunds. For good…”
FACT: Prop HH does not end TABOR refunds. If HH passes, all Colorado taxpayers will receive more than $800 in their next TABOR refund, a refund of $326-$1,028 in 2024 and $269-$848 in 2025 (depending on the person’s income). The Blue Book says “the measure’s impact on TABOR refunds over the long term depends on population growth, inflation and state revenue.”
The Colorado Department of Revenue’s most recent report on TABOR confirms that taxpayers will receive $833 in their TABOR refund for 2023, if HH passes.
A report by the Colorado Fiscal Institute shows that Colorado families can still expect to receive up to $10,000 in refunds for the next decade if state revenues grow 5% annually.
In 2024, the average home value ($700,000) will receive $574 in property tax relief (CFI) and the average taxpayer refund will be reduced by just $46.
Republican state Senator and No on HH campaign chair Barbara Kirkmeyer falsely claimed Prop HH would “dismantle TABOR” and that “refunds will essentially not exist.” However the Colorado Sun fact checked this claim and said “Proposition HH won’t — and can’t — dismantle TABOR.” KUNC also confirmed that “Proposition HH would not eliminate TABOR refunds, however, only curb them.”
CLAIM: “That’s a five thousand dollar tax increase on families…”
FACT: Prop HH reduces property taxes. It’s estimated to save the average homeowner more than $500 a year and it would continue to provide $1 billion to $1.6 billion in property tax relief every year.
A report by the Colorado Fiscal Institute shows 2-year savings for a home valued at $700,000 is $1,005.
A revised fiscal note dated Sept 7, 2023 shows the property tax relief would be $399 million in 2023, $956 million in 2024 and $1.1 billion in 2025. If Prop HH passes, there will be further reductions in the non-residential assessment rate in 2027, 2029 and 2031 that will make these savings larger, growing to an estimated $1.6 billion by the end of the decade.
Seniors who lost the homestead exemption and reclaim it as authorized by Proposition HH will save an additional $1,200 over two years according to an analysis by the Legislative Council.
CLAIM: “Multibillion dollar blank check for politicians…”
FACT: The surplus revenue retained from the 1% cap because of Prop HH would go toward backfilling entities that depend on property tax revenue, rental assistance, and the State Education Fund.
SB23-303 directs the state to use the surplus retained by Prop HH to replace property tax that would be lost to schools and local governments.
Money left over after providing local district backfill is deposited into the State Education Fund, which can only be used for funding education.
Learn more at www.yesonhh.org
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Denver Post Op-Ed, by former Gov Bill Ritter
Opinion: If passed, Prop. HH can help Colorado avoid a housing catastrophe
Another election is just around the corner, and even though we may not be voting for president or senator, we will be voting on a measure that will affect Coloradans for the next decade.
The current housing crisis is being fueled by unprecedented increases in population and a housing inventory that has not been able to keep up with demand. As a result, homes that were worth $250,000 in the suburbs of Denver are now worth close to a million dollars – and property taxes are not exempt from this dramatic increase.
A few months ago, Colorado homeowners, including myself, were shocked to receive their new property tax assessment – it even sparked a movement of homeowners asking their municipality to lower their property tax. This added expense left many homeowners worried about being able to afford to stay in their homes, especially seniors on a fixed income and low-to-middle income families. If we don’t take action now, the impact on rents, housing, and small businesses will be devastating.
Thankfully before the end of the last state legislative session, Gov. Jared Polis and Democratic lawmakers came together to refer Proposition HH to the ballot to avoid a crisis that could hurt vulnerable Coloradans.
Prop. HH is simple. If Colorado votes to pass HH, everyone will benefit from immediate relief – and there’s targeted relief for seniors and low-income families. Prop. HH is also responsible and provides relief without hurting schools, libraries, fire districts, water districts, and other services communities rely on which are funded through property tax revenue.
While Prop. HH would cut the upcoming property tax increase, it would also slightly adjust the TABOR cap by 1% in order to ensure that our schools and other critical local services, like fire halls and libraries, continue receiving the funding they need to continue to serve our growing communities.
Prop. HH cuts the upcoming property tax increase in half and it saves the average homeowner over $1,000 in the next two years, according to a report by the Colorado Fiscal Institute (CFI). The study found it would continue to provide a whopping $1 billion to $1.6 billion in property tax relief every year, saving money for families, businesses, and seniors across the state.
Seniors are particularly vulnerable to property tax increases because they are often on a fixed income. The measure provides targeted savings for seniors by building upon the Senior Homestead Exemption and allowing seniors who were eligible for the Senior Homestead Exemption to move without losing the property tax savings.
The average senior homeowner in Colorado will save $1,065 over the next two years. If a senior was previously eligible for the Senior Homestead Exemption but lost it previously, they will save $2,122 over the next two years.
The sudden, dramatic increase in property taxes could be passed on to renters – making Colorado even more unaffordable. Fortunately, renters also have a lot to gain from Prop HH if it passes. The measure dedicates up to $20 million per year for rental assistance to help offset rent increases as a result of increased property taxes.
Despite these life-changing benefits, far-right special interests are opposing this measure and they are spreading baseless claims about how HH actually interacts with TABOR. If HH passes, all taxpaying Coloradans will receive $850, which means anyone making less than $100,000 per year will see a big increase in their TABOR refund in 2023.
Opponents of this measure also stretch the truth when it comes to talking about a reduction in refunds. The CFI study found, that Proposition HH provides an average homeowner with $600 in tax savings next year while only reducing TABOR refunds by $46. And taxpayers are expected to continue receiving billions in refunds each year, even if Proposition HH passes. The math shows that the tax relief benefits to taxpayers are much higher than any reduction in refunds.
Prop HH is common sense and it’s what needs to be done to avoid a crisis that could push vulnerable Coloradans out of their home. That’s why this is supported by so many groups like the Colorado Professional Firefighters, AFL-CIO, Colorado Concern, Colorado Education Association, and the Bell Policy Center. The future of our state is in our hands and Coloradans should vote yes on HH to secure it.
Bill Ritter served as the 41st Governor of Colorado from 2007 to 2011.
AARP Member Alert
AARP Supports Proposition HH
This November Colorado voters have the opportunity to cast a vote on taxation issues. One of these issues is Proposition HH, which provides property tax relief while maintaining support for important local services.
Proposition HH is in line with AARP Colorado’s longstanding efforts to reduce property taxes in an equitable and cost-effective way, especially for older residents living on set incomes. For this reason, AARP Colorado has decided to support this measure.
Here are three key reasons AARP Colorado believes Proposition HH will benefit Coloradans 50+:
Property Tax Relief: The majority (83%) of our Colorado members are homeowners. We know that many of you have concerns about rising property taxes. Property taxes are among the most burdensome to absorb, particularly for lower income older individuals and their families, and can interfere with the ability of our residents to age in their own homes and communities.
Proposition HH is a step toward reducing property taxes, helping older Coloradans maintain financial security in retirement, and making it easier for older residents to stay in Colorado and age in their own homes and communities.
Homestead Exemption Portability: Proposition HH would allow all homeowners to deduct $50,000 this year from the assessed value of their home and $40,000 in future years. Homeowners 65 and older who qualify for the Colorado Senior Homestead Exemption would be able to deduct $150,000 this year and $140,000 in future years. These deductions would lower the amount of property taxes owed by all homeowners, but especially provide relief to homeowners with low- and moderate-valued properties. Moreover, if voters approve Proposition HH, Colorado’s Senior Homestead Exemption becomes portable. In other words, eligible homeowners will be able to continue using their homestead exemption even if they move into a new home.
Services for Coloradans: AARP Colorado also supports Proposition HH because it takes steps to ensure that local governments have the necessary revenue to continue providing essential services and programs to all Coloradans, including older adults. Additionally, Proposition HH allocates $20 million to renters’ assistance. Should this measure pass in November, AARP Colorado plans to work with policymakers to ensure these funds are used to improve housing stability, equity, and long-term financial security for Colorado renters, especially for aging Coloradans on limited, inflexible incomes.
Are you registered to Vote for the November 7th election?
No or not sure? We urge all AARP members to be sure they are registered to vote and to verify their voter details. Click here* to register or verify your voter details.
Please watch for upcoming education opportunities regarding Proposition HH. Click here for more information or questions on the campaign.
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PRESS RELEASE
New Report Confirms Prop HH is a Net Benefit for the Next Decade
Denver, CO – A new report from the Colorado Fiscal Institute (CFI) reveals that average Colorado homeowners will save over $1,200 over the next three years, despite small adjustments to TABOR refunds, if Proposition HH passes. The report finds that in most scenarios, “taxpayers can still expect to get over $500 dollars back annually in a state TABOR refund throughout the decade if HH passes.” This report debunks the disingenuous claims made by the Common Sense Institute, a hyper-partisan group funded by the Colorado Opportunity Foundation whose director is Michael Fields, the leader of the No on HH campaign.
“This report confirms that Prop HH is a clear net benefit,” said Senate President Steve Fenberg. “If we don’t act, property taxes will skyrocket, leaving seniors and working families worried about being able to afford to stay in their homes. Prop HH will help avoid this crisis by providing immediate property tax relief while keeping TABOR refunds intact.”
According to the report, “the average homeowner in Colorado will get $1,336 over the next three years in property tax savings and still receive $1,690 in TABOR refunds.” CFI also modeled the next ten years under Prop HH in both recession and no recession scenarios and found that tax relief benefits to taxpayers are much higher than reductions in refunds. The average homeowner will save between $463-574, and their TABOR refund will go down by just $42 in 2024.
This is not the first time that bogus claims from the No on HH campaign have been debunked. According to the Colorado Sun, Republican state Senator and No on HH campaign chair Barbara Kirkmeyer falsely claimed Prop HH would “dismantle TABOR” and that “refunds will essentially not exist.” However, the Colorado Sun fact checked this claim and said “Proposition HH won’t — and can’t — dismantle TABOR.” KUNC also confirmed that “Proposition HH would not eliminate TABOR refunds, however, only curb them.”
The Sentinel Colorado’s Editorial Board has also highlighted that Republicans who oppose HH are not telling the truth: “Republicans say Democrats are creating a needlessly complicated fix with a 10-year lifespan as a ruse. That’s not true. Because of TABOR and other state tax mechanisms, only something this complex can ensure staving off an imminent tax increase and stabilize revenues for government services.”
Learn more at www.yesonhh.org.
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PRESS RELEASE
RELEASE: Democratic Party Endorses Proposition HH
Denver, CO – The State Central Committee of the Colorado Democratic Party endorsed 2023 statewide ballot measures Proposition HH and Proposition II at its State Central Committee meeting on September 14.
“Colorado Democrats are working hard to put more money into Coloradans’ pockets, and to invest in giving our kids a great education and that’s exactly what Propositions HH and II do,” said Shad Murib, Chair of the Colorado Democratic Party. “The Republican Party is selling the same old tired plan of giving irresponsible corporations and the wealthiest among us a handout, and Coloradans aren’t buying it. These measures cut the cost of living for working people, renters, seniors, homeowners and businesses.”
PRESS RELEASE
STATEMENT: Colorado Supreme Court Ruling on Prop HH
Denver, CO – Today the Colorado Supreme Court ruled that Proposition HH will appear on the November ballot, as referred by the legislature this spring, deeming the measure’s title constitutional.
Senate President Steve Fenberg welcomed the ruling with the following statement:
“Coloradans are facing huge property tax increases and Prop HH will deliver immediate relief while protecting funding for schools, fire districts, and other public services,” said Senate President Steve Fenberg. “Far right Republicans are doing everything they can to deny hardworking families and seniors a much needed tax cut this year, and we’re glad to see the Colorado Supreme Court affirm what the District court already ruled – Proposition HH is constitutional. We look forward to Coloradans being able to vote on tax relief in November so that working families and seniors can afford to stay in their homes and our economy isn't harmed by sudden tax hikes.”
NEWS ARTICLE
Prop HH cleared for ballot after Colorado Supreme Court rejects a challenge
Proposition HH — the ballot measure backed by Democrats that would slow property tax increases while reducing TABOR refunds — will be decided by voters on the fall ballot in Colorado after the state Supreme Court rejected a challenge to its constitutionality.