The recent changes in state government employment vary greatly across each department. Though the Governor’s FY23 budget request proposes a 0.85% increase in the overall level of the state government’s workforce, five agencies are proposed to grow above 6%.
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.
Common Sense Institute analyzes the taxes and fees that resulted from the 2021 legislative session. Under the additional impact of this year’s legislative action, the total net direct cost of rules and legislation passed since 2018 is now over $2.1 billion.
Common Sense Institute analyzes Colorado’s competitiveness and the challenges for Colorado’s economic recovery under more than $1.8 Billion in new regulations, taxes and fees past last several years.
At the November 2020 election, Colorado voters approved Amendment B, a constitutional ballot measure which repealed a key formula that has controlled the state’s property tax system for almost 40 years.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.
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%.