Colorado legislature will convene to address skyrocketing property costs

By JESSE BEDAYN
The Associated Press/Report for America

DENVER (AP) — The Colorado General Assembly will meet in a special session to address soaring home values and the consequent spikes in property taxes. The legislative session, which Colorado Gov. Jared Polis announced Thursday, follows a resounding defeat for a ballot measure in Tuesday’s election that attempted to address the problem over the next decade. Legislators will reconvene Nov. 17 to figure out how to quell property tax bills that could rise as much as 40%. The last several years have brought the steepest rise in home values nationwide in decades. The consequent hike in property taxes threatens seniors on fixed incomes and families struggling to afford their mortgage payments.