![Colorado residents to vote on one-of-a-kind homeowner tax relief plan](https://static.foxnews.com/foxnews.com/content/uploads/2023/11/Colorado-homeowner-tax-relief.jpg)
Colorado residents to vote on one-of-a-kind homeowner tax relief plan
Fox News
Colorado residents are deciding whether to siphon off a state tax refund that’s unique in the U.S. to help homeowners offset hikes in property taxes from years of rising home prices.
TABOR caps Colorado's tax revenue and requires the surplus to be redistributed to residents. Last year, TABOR provided $750 to each taxpayer.
Under the measure, property taxes won’t drop below previous levels, but the expected future increases in bills would be dampened.
The owner of a $500,000 home would pay anywhere from $186 to $276 less in property taxes this year than they would if the ballot measure didn’t pass, depending on local tax rates, according to estimates by legislative analysts.
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