Denver Public Schools gives assessment of finances under Proposition HH | Colorado

(The Center Square) – Denver Public Schools projected that a normal unmarried circle of relatives family’s taxes to the district in 2023-24 would move up between 17% to 24% relying on how Proposition HH does at the poll.

Proposition HH, which can seem at the November poll, would decrease owner-occupied residential assessment charges from 6.76% to six.70% and scale back the valuation aid from $15,000 to $50,000 for the 2023 tax 12 months. Prop HH, if handed, would additionally widely decrease the dimensions of attainable refunds owed to Colorado taxpayers under the state Taxpayer’s Bill of Rights. These decrease refunds, the varsity district mentioned, would backfill the misplaced belongings tax earnings from decrease assessment charges.

The median precise price of a Denver unmarried circle of relatives house has larger from $360,700 in 2018-19 to $469,000 in 2022-23. Then it jumped to $631,800 in 2023-24, in line with the district’s report. 

The overall quantity of taxes that the varsity district collects from a normal unmarried circle of relatives house larger from $1,244 in 2018-19 to $1,681 in 2022-23. If Proposition HH fails that tax invoice would build up to $2,086 a 12 months in 2023-24 and if it handed, the rise can be to $1,970.

Denver Public Schools’ investment is just a portion of belongings tax revenues.