The Eagle Chamber of Commerce’s Board of Directors voted to support the repeal of the Gallagher Amendment / Amendment B on the November 3 ballot.
The Gallagher Amendment was added to the Colorado State Constitution in 1982 by the voters to protect homeowners from rising property tax assessments, and to ensure that businesses contribute their fair share, by requiring that homes make up no more than 45% of the statewide property tax base. Since the passage of Gallagher, residential property values have outpaced commercial properties resulting in business owners paying $4 in property taxes per every $1 paid by residential homeowners.
The Gallagher has complicated the state’s property tax process unevenly across the state, resulting in an unfair impact on rural communities and their local businesses. It is understandable that voters will have questions related to how they should vote and, therefore, the Eagle Chamber has posted answers to many of the frequently asked questions (FAQ) on our website: eaglechamber.co/news.
The Eagle Chamber encourages voters to become fully informed about the Gallagher Amendment, and then, cast an educated vote.
Grant Murphy, President, Eagle Chamber of Commerce