Unlike many other states, Colorado does not have a “rainy day fund.” The state does have reserves, which are a pot of money set aside from the General Fund to protect against declining revenues and economic downturns.
Colorado lawmakers are making some very difficult choices this budget cycle, and some of the toughest will come in the next week as they work to close a $1.2 billion funding gap.
Homestead exemptions are one of the few progressive options for reducing property taxes, providing a relatively greater benefit for homeowners of middle value property.
Why the move by Douglas County to reduce its property values didn’t make sense and why the State Board of Equalization was correct in striking down the decision.