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Proposition HH Small Business Central

Proposition HH Small Business Central

October 29, 2023

Proposition HH Small Business Central

Senate Bill 23-303 put Proposition HH on the November 7, 2023, election ballot. Among other things, the referendum asks, “Shall the state reduce property taxes for homes and businesses … by using a portion of the state surplus up to the proposition HH cap as defined in this measure?” Opponents of Proposition HH call it a backdoor way to eliminate the Taxpayer Bill of Rights (TABOR). The following information is aimed at providing small business owners with a source for making their decision. This story will be updated as newer information becomes available.
NFIB Statewide Issue Campaign NFIB Colorado in the News
  • November 9, The Gazette—Michael Fields, president of Advance Colorado cites NFIB’s involvement as crucial to the defeat of Proposition HH.
From the NFIB Colorado Web Page From the Research Institutes

Excerpt: If Prop HH passes, the increase in property taxes will be slightly less than under a current law adopted by the General Assembly in 2022, but households could lose $5,119 in TABOR refunds over the next decade.

Excerpt: Within a few years, taxpayers will no longer get checks like the $750 checks they got last year. The state will simply keep the money, effectively increasing state taxes by up to $12.5 billion over the first decade.

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