CLICS/CLICS2023A/commsumm.nsf
PUBLIC
BILL SUMMARY For INSTITUTE ON TAXATION AND ECONOMIC POLICY
INTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Sep 7, 2023
Location HCR 0112
Institute on Taxation and Economic Policy - Committee Discussion Only
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10:59:23 AM |
Mr. Marco Guzman,
representing the Institute on Taxation and Economic Policy (ITEP), presented
to the committee on state property tax circuit breakers. A copy of his
presentation may be found in Attachment B.
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11:03:06 AM |
He continued by discussing
circuit breakers in the US, including Colorado's property tax/rent/heat
(PTC) rebate.
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11:05:03 AM |
He continued by discussing options for reforming the PTC including expanding eligibility, raising the income eligibility levels, and restructuring the calculation to threshold-style circuit breaker.
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11:07:49 AM |
Mr. Guzman continued by discussing additional policy design questions, such as caps, expanding to renters, percentage of income, and program awareness.
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11:10:53 AM |
Mr. Guzman continued
by discussing alternatives to circuit breakers such as homestead exemptions
and growth caps on assessed values.
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11:16:59 AM |
Committee discussion continued with Mr. Guzman regarding policy design and flaws.
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11:22:59 AM |
Committee discussion regarding service providers and distribution.
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