050724 Lisa Frizell

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Episode Transcript

(00:00):
For the show. Let's come backhere to the state of Colorado. The
legislature winds down tomorrow, Thank God, Almighty, signe die is tomorrow.
Today is the final full day ofnonsense down to the Dome of Dummies,
and I want to walk into theprogram. State Representative Lisa Frazel. There
has been a compromise finally struck thatmight give Colorado in some property relief.

(00:26):
I've been talking on this show andsaying why didn't we lead with this back
in January when this legislature first gotin the session. This should have been
top priority. Unfortunately the Democrat legislaturedid not allow it to be top priority.
But looks like coming into the lastminute is a bill in which Republicans
have said, yeah, we cansign off on that. It's well,

(00:47):
let's let's Lisa Frazel. Representative LisaRazel tell you about it. This Razille
walking on the program. Nice tohave you. Thank you so much for
having me this morning. How areyou. I'm doing very well. Let's
talk about this bill under the water. I are kind of like to finish
at the Kentucky Derby. Just bya nose we get something in what's in
this bill? And should we beafraid or should we be optimistic. Well,

(01:10):
I'm optimistic and I hope that Coloradocitizens are as well. This this
really came out of the special Sessionwhere we created a property tax Commission,
and that was one of the ideasthat Republicans provided in last year's session that
was killed, but it was reallyrevived during the special session. I was

(01:34):
able to sit on the Property TaxCommission, and that was it was actually
a good group we had. Itwas bipartisan, we had people from different
industries. It wasn't all a bunchof legislators who don't know what the heck
they're talking about. And we cameup. We provided a certain meeting in
December, met all the way throughMarch, and we're really working to provide

(01:57):
some solutions and some possibilities for thestate of Colorado. And after we did
present some proposals, a couple ofrepresentatives and senators started independently working stakeholding with
local government entities and making sure thatwe had a lot of voices, a

(02:20):
lot of buy in, and wekept negotiating. This has been one of
the most rigorously negotiated bills I've everseen. Wow, there was the voice
of Representative Lisa Frizzel. She's aRepublican state representative out of the Castle Rock
area now in the Senate. Thisbill also had a Republican signed on that
would be sponsor Barbara Kirkmeyer, Friendof the program, and so talk about

(02:45):
the devil in the detail of thisbill. Is there going to be property
tax rate recruit where's the change andhow will Coloradoan's first notice it. So
there's a couple of different things.One is, through the special session,
we provided a framework for twenty twentythree property taxes that tried to hold that

(03:12):
the taxes down as much as possible. Candidly was not I didn't agree with
it, I didn't vote for it, but it provided some relief to property
owners. One thing that we're doingwith this bill is we're rolling that twenty
twenty three solution forward to twenty twentyfour so that we can implement beginning in
twenty twenty five, this new framework. And what this framework does is up

(03:38):
to seven hundred thousand, your tenpercent of your property value is taken off
the top before taxes are calculated.So say if your home is valued by
the assessor at five hundred thousand,you're taxed on four hundred and fifty of
that. The other thing that itdoes is the residential assessment rate was scheduled

(04:00):
to increase to seven point zero sixthis year, which would be a tax
increase, and then further down theroad, it was supposed to increase to
seven point one five, which isthe statutory number. This bill backs that
way off sets it at six pointninety five percent, which is again a
saving based on what was scheduled tohappen. That, combined with that value

(04:25):
reduction, is an effective rate reductiondown to six point five percent for most
property owners. The voice of representaorLisa Brazil, Republican out of the Castle
Rock area, talking about a billthat has bipartisan support, it looks like
and gets under the wire right beforethe final days of the Colorado General Assembly
for twenty twenty four. The newspaperColorado Politics says, this is the largest

(04:49):
property tax reduction in twenty years.Does that? Does that hold true?
Yes? Well, for the firstyear, one point three billion dollars in
taxes saved by not just not justhomeowners, but by businesses as well.
This package also includes great relief forour business owners, our commercial property owners

(05:15):
who have really just they've been bearinga burden from a property tax standpoint.
While we had Gallagher, the residentialassessment rate was allowed to fluctuate down,
they got no relief. They wereset at twenty nine percent since the early
eighties, and so this actually providesa very aggressive ratcheting down of the commercial

(05:38):
rate from twenty nine percent to twentyfive percent in two years. The voice
of LEASA for Sales state representative outof the Castle Rock area Republican talking about
a bill that has it looks likesneaking it under the wire and hopefully going
to be signed by Jared Poulos aboutproperty tax reduction. One of the obvious
questions that I just got a messageof this from listener, why does it

(06:00):
only kick in fully in twenty twentyfive. Why can't we that you said
twenty twenty six, and is akick in this year? Next year it
kicks in for a tax you're twentytwenty five and then going forward. And
part of it is just being asbeing able to implement it because it is
a big change in what we've beendoing in the past. There are other
components to this though, that arereally important. One thing that I am

(06:25):
particularly excited about is this five anda half percent cap on local government revenue
increases on an annual basis. Whatthat does is that prevents the spikes that
we saw over the last couple ofyears. And it is also telling local
governments tighten your belt because citizens canno longer bear the burden of funding exorbitant

(06:51):
property tax tax increases for these localgovernment services. Now they also oftentisk when
you talk about property tax. Ifyou do that, you're going to cut
funding for the kids. The kidsare going to starve. The kids won't
have teachers, the pastors will burndown, we won't have fire departments,
et cetera. Is there not anyof that? Is any of that opposition

(07:13):
or some of that those accusations,Is it floating others or everybody happy here?
No one's using the children as ashield saying don't do anything. No.
So, actually, one of thethings that was really important in this
conversation was having those hard conversations withlocal governments, which we did, and
also making sure that our schools arestill appropriately funded. And I believe that

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we have reached a good balance onall fronts. All right, So the
bill is I know there's a houseversion and a Senate version. Are they
identical? Do they have to goto a conference? How does this work?
Because we're down to the wire here, Lisa, No, I know,
I know. It is Senate Billtwo thirty three. There is one

(07:57):
version. It is currently in theSenate. We should be seeing it in
the House this afternoon. So itis moving very quickly and we're hoping for
broad support. Now here's the bigcaveat Jared Polos. Do you think this
is a solution that Jared Polus willgive his seal of approval and signature for
he has said he will. Allright, Lisa Frazel, I appreciate you

(08:20):
hopping on the program. Good tohear from you, and appreciate the update.
Again. It's Senate Bill two threethree. It's going to be heading
over to the State House of Representativesin the General Assembly. It is going
to reduce commercial property tax assessment ratesand home valuations and it is the largest
property tax reduction in twenty years.Now, I think we Yeah, it

(08:43):
looks pretty good. I reading it. I haven't read the bill, but
this sounds looks pretty good, LisaFrizzel says, is good. Barb Kirkmeyers
in on it. So you takethem and say, Okay, that's probably
pretty good. Now, somebody messageme, lacky, why are they just
now getting this in the end ofthe session. It's because the Democrat leadership
didn't prioritize this. I mean,they've been meeting behind those scenes. But
if I were leadership, I wouldhave said, we're not doing anything.

(09:05):
We're not going to dot any eyesand cross any t's until we help the
people of Colorado with their property tax. But this did not. They had
to kind of work behind the scenesinstead. They had to deal with things
like where the wine display is atin the grocery store versus the liquor store,
and uber and door dash and liftregulation. They had to deal with
that. But I'm glad. I'mglad they came to the table and made

(09:28):
this a priority. Lisa Frazelle,thank you for hopping on the program again.
State representative out of the Castle Rockarea. Republican leader reading some quotes
here on this becau's a pretty bigdeal that they came together on him.
Property taxes have stemy lawmakers since theGallagram member was appealed in twenty twenty.
Lawmakers promised to find a solution inthe past year where the solution has remained

(09:50):
elusive. This special session didn't domuch and it's an inter Let me put
up the Colorado Politics piece Colorado politicsdot com if you'd like to understand more
about this compromise. I think isa good word, and it is bipartisan,
and you got Lisa Frazel Republican andBarb Kirkmeer in on it. So

(10:11):
hold on Colorado. You could beseeing some relief in those property taxes that
you saw increase so drastically after therepeal of the Gallagher Amendment. There could
be good news, something good comingout of the Colorado State Legislature in General
Assembly. Oh my goodness, myheart is palpitating with the very thought of
it. I'll be back news toalk. Six hundred k col