Ordinance 304 or the “Enough Taxes Already” ballot initiative proposes to cut the City of Denver’s sales tax from 4.81% to 4.5% and impose a cap at the latter rate.
Proposition 120 – “Property Tax Assessment Rate Reduction” proposes to permanently reduce the statewide property tax assessment rate for several classes of property.
At the November 2020 election, Colorado voters approved Amendment B, a constitutional ballot measure which repealed a key formula that has controlled the state’s property tax system for almost 40 years.
If you live in Denver, your sales taxes are set to increase on January 1st. $40,000,000 will be to fund yet to be identified projects to address climate change and emission reductions.
Monthly revenue estimates suggest differing impacts on sales tax revenue across Colorado cities.
This November, Colorado voters will be asked to approve or reject a proposed reform of the state’s property tax system through a repeal of the Gallagher Amendment of 1982.