Gov. Jared Polis and economist Arthur Laffer will face Rep. Rose Pugliese and Michael Fields in a debate on Oct. 23 over the proposal to use Taxpayer’s Bill of Rights dollars for property tax relief. 

Colorado Politics, The Denver Gazette and 9News will host the debate, which is scheduled for 7 p.m. on Oct. 23. The two news entities will live-stream the debate on their respective websites.

Fields of Advance Colorado Action and Pugliese, the assistant minority leader in the House, will represent the “no” side during the debate. Polis and Laffer will argue the “yes” side.   

The ballot question, which the legislature referred to the ballot, will ask voters this November for permission to raise what’s called the Referendum C cap by 1% and keep that additional revenue for a 10-year period. That would generate about $167 million per year. That total would be funneled to local governments to hold them “harmless” from reductions in property tax revenue, as well as boost funding for K-12 education.

A companion measure, contained in House Bill 1311, will provide a one-time only equalized TABOR refund to taxpayers, should Proposition HH pass, giving each single filer $833, or $1,666 for joint filers, based on the latest state estimate.

If approved by voters, Proposition HH would make a temporary assessment rate reduction for residential property classes and reduce valuations – and the property taxes tied to those valuations – for owner-occupied, senior and multi-family housing by $50,000 in 2023, and by $40,000 from 2024 to 2032.

If voters rejected the measure, the TABOR refund in 2024 would be based on the state’s current six-tier refund mechanism, which is decided by income levels.