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.
This November, voters in Colorado will have the opportunity to vote on Proposition 116, a state income tax reduction, which would decrease Colorado’s income tax rate from 4.63% to 4.55%.
Under the Colorado Constitution, the creation of new taxes or the raising of existing taxes must be voted on by the people of Colorado.
A series of legislative proposals and proposed ballot measures would impose billions of dollars of higher taxes and fees on a state economy that’s struggling to restart after the COVID-19 shutdown.
The $1.6 billion tax increase proposed by Initiative 73 will negatively impact the Colorado economy, cost private sector jobs, and place a significant tax burden on Coloradans.