Colorado voters reject measure that would have lowered property tax by eating into their tax refunds

COLLEEN SLEVIN and JESSE BEDAYN
Associated Press

DENVER (AP) — Despite seeing home values soar by double digits, Colorado voters have rejected lowering their property tax bills by eating into special state tax refunds — which returned $750 to each taxpayer last year. The proposal would have slowed the increase in property tax bills after home values rose as much as 45% in the Denver area and even more in parts of the mountains. But critics feared that savings from lower property tax bills would eventually be outweighed by the elimination of the tax refunds.