Colorado is deciding if homeowner tax relief can come out of a refund that’s one-of-a-kind in the US

COLLEEN SLEVIN and JESSE BEDAYN
Associated Press

DENVER (AP) — 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. A measure is being decided in the election that wraps up Tuesday. Legislative analysts say the owner of a $500,000 home would pay anywhere from $186 to $276 less in property taxes this year than they normally would, depending on local tax rates. There would be an initial increase in the taxpayer refund for everyone this year, but the refund checks will start to decrease and possibly disappear for people of all income levels, whether or not they own a home.