The Colorado
\nbudget is $3 billion in the hole, and the Joint Budget Committee posted its
\n\u201cStaff Budget Balancing FY 2020-2021\u201d document April 11, 2020.<\/p>\n
Our state Sen. Bob
\nRankin and Rep. Julie McCluskie are on the Joint Budget Committee and have signed
\non to the recommendation to suspend the Homestead Tax Exemption to free up
\n$163,578,262 toward decreasing the budget deficit. <\/p>\n
While the law took
\neffect in 2002, legislators voted not to fund it in 2003, 2004, 2005, 2009,
\n2010 and 2011. This exemption has allowed many owners to remain in the homes
\nthey love.<\/p>\n
Section 3.5 of
\nArticle X of the Colorado Constitution grants the property tax exemption to
\nqualifying senior citizens and disabled veterans. The property tax exemption is
\n50% of the first $200,000 of actual property value.<\/p>\n
The $3 billion
\ndeficit does not take into account the effects this COVID-19 pandemic will have
\non our state. This 2020 legislative session began $100 million in the red just
\nfrom the READ Act and full-day kindergarten funding. From there, the numbers increased to the
\ncurrent $3 billion.<\/p>\n
It is
\nobjectionable to place a burden on seniors and disabled veterans because the
\nstate overextended itself.<\/p>\n
The Joint Budget
\nCommittee also recommends suspending the annual PERA direct distribution,
\nfreeing up $225 million. Ask our legislators how they can consider a decision
\nthat can affect public employee retirees.<\/p>\n
Colorado is required to have a balanced budget, and it is important to remind legislators that they spend our money. To add a greater burden on Coloradans, particularly with this pandemic, is unacceptable.<\/p>\n