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DENVER – Colorado Chamber President and CEO Loren Furman this week was appointed to the Commission on Property Tax by Senate Minority Leader Paul Lundeen. The commission was formed by HB 1003 during the 2023 special legislative session to address property taxes following the failure of Proposition HH in November’s election.
“The historic rise in property taxes this year will have broad impacts on Colorado’s business climate,” Furman said. “From the employer perspective, nonresidential rate increases only add to the state’s growing cost of doing business, while residential property tax hikes will continue to drive up the cost of housing for workers statewide. In order to stay economically competitive with neighboring states, a long-term solution to our property tax structure is critical. I look forward to working alongside the other members of the commission on future-focused solutions and serving as a voice for the statewide business community.”
The 19-member commission is tasked with identifying, considering and evaluating legislative options for a permanent and sustainable property tax structure for the state. Members of the commission will begin meeting this month and will continue through March 2024.
The Colorado Chamber of Commerce champions free enterprise, a healthy business environment and economic prosperity for all Coloradans. It is the only business association that works to improve the business climate for all sizes of business from a statewide, multi-industry perspective. What the Colorado Chamber accomplishes is good for all businesses, and that’s good for the state’s economy. It was created in 1965 based on the merger with the Colorado Manufacturers’ Association.