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Colorado Chamber Supports Property Tax Package and Other Measures to Improve Cost of Living for Coloradans

For media inquiries, please contact Cynthia Eveleth-Havens at [email protected].

The Colorado Chamber of Commerce today applauded a series of bills that would improve Colorado’s cost of living, including a comprehensive property tax proposal that emerged from a special task force. Chamber President and CEO Loren Furman served as a commissioner on the task force representing the statewide business community.

Senate Bill 233, introduced today, creates responsible rate reductions that balance property tax relief with preserving funding for local communities. The bill reduces total statewide local taxes by approximately $1 billion.

“In representing the statewide business community on the property tax commission, it was critical to ensure that reductions in both residential and nonresidential property rates were included in the final recommendations,” Furman said. “Businesses and individuals across Colorado have faced historic rate increases that threaten our economic growth on a broad scale, from driving up the cost of doing business to exacerbating the housing affordability crisis. This solution takes a balanced approach to providing critical property tax relief while also preserving funding for local services and protecting voter-approved bonds for housing and infrastructure needs across the state.” 

In addition to SB 233, the Colorado Chamber has unanimously voted in support of the following bills that aim to improve the cost of living in Colorado:

  • SB 228: Creates additional income tax reductions under the Taxpayers Bill of Rights (TABOR) and adds a sales and use tax cut to the current TABOR refund mechanisms.
  • HB 1237: Creates three new grant programs to ease the creation and development of child care facilities.
  • HB 1316: Creates a pilot program for an income tax credit for qualified housing developments focused on rental housing for middle-income individuals and families.
  • HB 1434: Expands the affordable housing tax credit.

“We are facing a critical moment where the affordability crisis is significantly impacting our communities, creating an unsustainable burden for many Coloradans,” said Furman. “Employers are invested in finding solutions to address the historic rise in property taxes, improve the housing supply and more to make it easier to attract and retain talent in Colorado. This is critical for both workforce development and our long-term competitiveness as a state, and we applaud the sponsors of these bills for recognizing the urgency of improving the cost of living in Colorado.”

Colorado’s cost of living is one of the most expensive in the nation, with the state’s housing market being ranked the 46th least affordable in the U.S. The average cost of infant child care in Colorado in 2022 was $19,573 per year for an infant and $16,307 per year for a toddler. More than three-quarters of employers said this a top barrier for attracting talent in the Chamber’s recent business leaders survey.

Addressing the rising cost of living has been a key focus area of the Colorado Chamber’s 10-year strategic action plan to improve the state’s business climate and is a top priority in its advocacy efforts. Supporting policies to increase housing supply and development, finding long-term property tax solutions, and improving the affordability of child care are major components of the Chamber’s 2024 legislative agenda.

The Colorado Chamber testified in support of HB 1237 on March 6, HB 1316 on March 11, and HB 1434 on April 11.


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.