“Off years” are typically pretty quiet for elections. While presidential and congressional contests won’t be held until next year, many Colorado’s cities and towns will choose new leaders today. Statewide ballots are limited to those that involve taxes, which limits the number of policy decisions for voters. That said, there is still an election happening, and this one contains two major issues with the power to impact Colorado’s finances, including a rewrite for the Taxpayer’s Bill of Rights to the tune of a billion dollars. It also features 75 local measures and many mayoral races. Voter input will reshape communities and impact family budgets for the foreseeable future. See below for information on two state ballot initiatives we are following:
Proposition HH
- NDC Recommendation: YES
- The Question: Prop HH asks voters to decide on a measure that lowers property taxes while also letting the state hold onto more of the other taxes residents pay over the long-term – which means less in tax refunds to taxpayers.
- Background: Lower property tax rates, smaller TABOR refunds, maybe more money for schools? Prop HH seeks to tear down some of TABOR’s spending protections – opening up more money for state budget priorities. This current attempt is paired with a decrease in property tax rates – which could have notable impacts for property owners as there’s an estimated 40% increase of property taxes coming in 2024.
- Our friends at Colorado Center on Law and Policy have a fantastic write up on this HERE
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Proposition II
- NDC Recommendation: YES
- The Question: Prop II asks voters a simple question: Can the State keep $23.7M in excess tax revenue it collected from tobacco and nicotine products to invest in state programs?
- Background: Our state has $24 million in excess tobacco and nicotine taxes – voters need to decide how to use it. Proposition II will prompt voters to decide whether Colorado can keep $23.7 million in excess tax revenue that was collected through the sales of tobacco and nicotine products. The large amount on the table and how we decide to use it could hold significant state-spending implications for years to come. Some ideas for how the money could be spent include roughy 15 hours of tuition-free preschool, and will help the statewide preschool programs’ shortage of cash, which negatively affected the launch of the free-preschool program this year.
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