Last month Colorado lawmakers passed a bill that is meant to stop property tax hikes. The property tax bill into law is the second tax relief measure signed in the past four months.
Supporters claim that such a property tax bill will save homeowners and small businesses over $1.5 billion every year.
The Bill is also designed to prevent further large spikes in property taxes similar to those experienced last year.
With little to no surprise the measure passed with wide bipartisan support.
To give you a better idea of such benefits, the Office of State Planning and Budget says the compromise -- combined with another bill passed in the spring -- will cut taxes $200-$300 a year depending on where you live.
Below are some examples of how much Homeowners will save on average next year.
Denver $233, Adams County $324, Garfield County $188, & Pueblo $173 on average.
The bill scheduled savings to go up in 2026.