Stop us if you've heard this one before: Colorado leaders agree something needs to be done, but they can't agree on what to do.
What's new: The issue is property taxes.
Lawmakers and advocates acknowledged they are at an impasse on how to address an issue with billion-dollar consequences.
"What you're seeing is a population of ideas to fill this vacuum, and I think it's a mess," said Bell Policy Center's Scott Wasserman.
Why it matters: Residential and commercial tax bills are rising exponentially with corresponding increases in housing valuations, generating concerns about affordability and gentrification.
But property taxes help fund schools, fire districts and local government initiatives — the programs most visible from our own front yards. So any change would likely affect them.
State of play: The debate is headed toward the November ballot for the third straight year, as outside organizations seek to remedy what the Democratic-led state Legislature has been unable to resolve.
The potential measures include:
A 3% limit to property valuation increases backed by Colorado Concern, a prominent business advocacy organization.
A 2% annual cap on property tax hikes pushed by conservatives activists.
A special tax for luxury homes and big businesses put forward by the liberal Bell Policy Center.
Between the lines: Colorado lawmakers are attempting a grand compromise — or at least a temporary one — to prevent a collision of conflicting measures.
The $36.4 billion state budget being debated sets aside $200 million, which could be used to extend existing property tax breaks or create new ones.
John's quick take: In eight years of tracking this issue, I've never seen such a lack of direction at this point in an election year.
What to watch: With the session entering its final weeks, legislative leaders still have no idea what will take shape.
"The question is how can we get to the sweet spot so a ballot initiative doesn't have to be considered this fall," says Senate Majority Leader Dominick Moreno (D-Commerce City). "I think the challenge is that no one knows who we are negotiating with anymore."
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