{"id":1320318,"date":"2020-06-03T11:05:10","date_gmt":"2020-06-03T17:05:10","guid":{"rendered":"https:\/\/www.postindependent.com\/?p=996976"},"modified":"2020-06-03T11:05:10","modified_gmt":"2020-06-03T17:05:10","slug":"gallagher-led-to-35-billion-in-residential-property-tax-cuts-now-colorado-lawmakers-want-voters-to-repeal-it","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/kske\/local-news\/gallagher-led-to-35-billion-in-residential-property-tax-cuts-now-colorado-lawmakers-want-voters-to-repeal-it\/","title":{"rendered":"Gallagher led to $35 billion in residential property tax cuts. Now Colorado lawmakers want voters to repeal it."},"content":{"rendered":"
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An engine and ambulance sit in front of Glenwood Springs Fire Station Three on Four Mile Rd. Fire districts across the state stand to benefit in a bipartisan proposal to ask voters this year to repeal Colorado’s Gallagher Amendment.<\/strong>
Post Independent file photo<\/em><\/figcaption><\/div>\n<\/figure>\n

In a desperate attempt to stave off further budget calamity<\/a>, state lawmakers are fast-tracking a landmark ballot measure that would ask voters to repeal the Gallagher Amendment<\/a> \u2014 the property tax-limiting constitutional provision that has provided an estimated $35 billion in tax relief to Colorado homeowners since 1983.<\/p>\n

The bipartisan proposal \u2014 which requires a legislative supermajority to pass \u2014 represents the nuclear option for tackling Gallagher, a sign that the growing economic crisis is upending long-held assumptions about what is politically feasible in tax-averse Colorado.<\/p>\n

It is also an indication of just how desperate state lawmakers have become as they face an economic abyss unlike any other in their lifetimes.<\/p>\n

Last week, state budget writers put the finishing touches on a proposed spending plan that cuts $3 billion this year and next. And earlier in May, lawmakers learned that Gallagher<\/a> could trigger an 18% residential property tax cut, which would mean an additional $491 million in cuts to schools and $204 million in cuts to county governments starting in July 2021.<\/p>\n

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