Colorado voters turned down a polling initiative that would have lowered property tax rates on apartment buildings and housing facilities, and would ask the state to reimburse local governments for homestead exemptions.
Voters rejected on Tuesday Suggestion 120, according to unofficial results with a margin of around 57% to 43%. The proposal would have changed the tax code to permanently lower property tax rates for two property classes. The citizens’ initiative called for a reduction in the assessment rates for apartments, but not for condominiums, from 7.15% to 6.5%. Rating rates for hotels, motels and bed and breakfasts would have …
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