Colorado voters decided not to limit the Taxpayer Bill of Rights, which restricts how much revenue governments can retain when property values rise.
With more than 55% of statewide voters opposed, Proposition CC failed in Tuesday’s election. The measure would have allowed the state government to retain revenues that rose above a TABOR formula based on population and inflation.
The proposition would have required the extra revenue to fund education and transportation. Approved 27 years ago and amended in 2005, TABOR has made budgeting difficult for state and local governments. In years when revenue passes the TABOR threshold, the money must be refunded.
Colorado has refunded revenue under TABOR in nine of the past 26 fiscal years.
The verdict on Prop CC came less than a week after Gov. Jared Polis’ proposed a $34.5 billion budget for upcoming fiscal year, an increase of 2.7%, or $897 million, in total funds, including federal dollars. Polis’ plan did not include any excess revenue that would have been provided by passage of Prop CC.
Voting on another statewide measure, Proposition DD was a virtual tie the day after the election. The proposition would legalize and tax sports betting over the internet and in the casino towns of Central City, Black Hawk and Cripple Creek. Revenue from the tax would be used to finance water projects around the state.
In local elections, A $218.3 million Pueblo County School District 60, Colorado, bond issue appeared headed toward approval. In Weld County, A $395 million Greeley Evans SD 6, Colorado, ballot question passed, while Weld County SD RE-2 voters seem to have narrowly rejected a $139.9 million issue, but approved a $128.5 million issue.
In western Colorado, Mesa County voters appeared to reject a $179.5 million School District 51 bond measure that would have replaced Grand Junction High School and provided improvements to Central, Fruita Monument and Palisade high schools.
