Category Archives: TABOR Refunds

Oct 11

Voters to decide if El Paso County can keep $15 million in excess revenues

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Voters to decide if El Paso County can keep $15 million in excess revenues

From the 2021 Voter Guide: Races and issues in El Paso and Teller counties series

EL Paso County voters will decide in November 2021 whether to refund $15 million in excess government revenue back to residents or to use the money to address road infrastructure projects and backlogged parks maintenance.

Courtesy of El Paso County Public Works

 

El Paso County voters will decide whether the county may keep $15 million in excess government revenues to fund road infrastructure and deferred parks maintenance projects when they cast their ballots Nov. 2 — money that would otherwise be refunded to taxpayers under Colorado’s Taxpayer’s Bill of Rights.

If voters approve the question, El Paso County will use $13 million of surplus funds to pay for backlogged roadway improvements, including paving and repairing potholes on roads throughout the county. Another $2 million would fund deferred parks projects such as capital improvements, trail preservation and wildfire mitigation at Bear Creek Park, Paint Mines Interpretive Park, Fountain Creek Regional Trail, Ute Pass Regional Trail, The Pineries Open Space and Fox Run Park, including a northern nature center.

The question also asks voters to decide whether to raise El Paso County’s revenue cap to reflect actual 2021 revenue, increasing the limit from $285 million to about $300 million. The amount of the final revenue cap is unknown until next May, because El Paso County will continue collecting additional state and sales tax revenues through the rest of the year, county spokeswoman Natalie Sosa previously said.

2021 Voter Guide: Races and issues in El Paso and Teller counties

TABOR calculates increases in most local government revenues to a formula based on population growth and inflation. Excess can only be used for voter-approved purposes. Continue reading →

Sep 28

EDITORIAL: $4 billion in returns will fuel the economy

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Tails should not wag dogs. It defies physics, not to mention the will of the dog. Tails should wag dogs no more than politicians should decide the size and scope of a government established by the governed to serve the governed. A roaring economy should never increase the size and scope of government unless the people demand it.

The residents of Colorado have made clear they don’t want more government. They believe the state has all the money it needs. They reiterated this conviction just two years ago when they trounced Proposition CC, a proposal to let the state keep revenues above a floating state spending cap determined by an equation of inflation and population growth.

Just last year, voters went a step further and lowered the Property tax from 4.63% to 4.55%, and probably would have voted for a lower rate had they been given the option.

One reason this center-left blue state wants to throttle back government spending is the general discontent the public has with the way politicians treat their money.

To read the rest of this editorial, please click (HERE):

Sep 28

Colorado to issue $4.1 billion in taxpayer refunds in next four years

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Source: Colorado Legislative Council; Chart: John Frank/Axios

Colorado is preparing to issue $4.1 billion in refunds to taxpayers over the next four years, new projections show.

State of play: Whether that’s a good thing remains up for debate among state lawmakers.

What’s happening: Democratic lawmakers and liberal advocates are renewing a push to bypass the Taxpayer’s Bill of Rights and keep the surplus tax revenue, saying the money is needed to help the state build back from the pandemic and improve education.

  • Early discussions involve moving certain revenue off the books.
  • Another possibility is asking voters to keep the money through a ballot measure.

What they’re saying: “This coming year, taxpayers will see rebate checks, but those will come at the expense of better funding for public services that reduce costs for all of us,” state Sens. Chris Hansen and Dominick Moreno, both Democratic budget writers, wrote in a recent opinion piece.

The other side: Gov. Jared Polis, a Democrat, is cheering the refunds, saying they’re a sign of a good economy.

Conservative supporters of TABOR are blasting Democrats for wanting to keep the cash.

  • “Colorado voters have said time and time again they want their TABOR refunds,” said Jesse Mallory, the Colorado director of Americans for Prosperity, a limited-government group. “The legislature should not ignore the will of the voters and look for loopholes to keep them.”

How it works: Under TABOR, the voter-approved constitutional amendment, Colorado’s tax revenues cannot exceed the rate of inflation plus population growth. When they do, the surplus must go back to taxpayers unless voters allow the government to spend the money.

The size of the surplus determines how it is refunded.

  • For the current year through 2024, the surplus is so large it will result in a temporary reduction of the state’s income tax rate from 4.55% to 4.5% and a sales tax refund.

To read the rest of this story, please click (HERE):

Sep 23

State’s economic recovery expected to fuel billions in TABOR refunds

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Colorado taxpayers should expect to see Taxpayer’s Bill of Rights refunds for the next several years, provided state revenues continue to do well over that time, state economists told lawmakers Tuesday.

Those economists told the Colorado Legislature’s Joint Budget Committee that their third-quarter revenue forecasts are showing that if the economy continues to bounce back from last year’s pandemic downturn the way it is right now, the state could see more than $4 billion in surplus revenue over the next four years.

That’s money over and above what the 1992 TABOR and 2005 Referendum C voter-approved amendments allows the state to retain, meaning it all is to be refunded to taxpayers when they file their income tax forms starting next year.

As things stand now, the Legislature expects to refund about $471.4 million next year, $1 billion in 2023, $1.2 billion in 2024 and $1.4 billion in 2025, the economist estimated.

That’s all possible because the state’s economy overall is at or near at pre-pandemic levels.

To continue reading this story, please click (HERE):

Sep 07

EDITORIAL: Refunds remind us of TABOR’s wisdom

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060921-dg-capitol
The Colorado State Capitol building during the final day of the legislative session on Tuesday, June 8, 2021 in Denver, Colo. (Katie Klann/The Gazette)
Katie Klann

It seems like just yesterday to us that Colorado voters adopted the Taxpayer’s Bill of Rights on the statewide ballot and ensconced it into the state’s constitution. Yet, the groundbreaking policy has been in effect for nearly three decades.

In that time, it has kept state and local government on a diet — and has saved taxpayers untold millions of dollars. And they still love it after all these years, as most credible polls show.

Perhaps more noteworthy: Even some political leaders on the center-left seem to have made their peace with the policy. Our reputedly liberal Democratic governor from Boulder went so far as to laud it just the other day. That’s quite a stride.

Yet, TABOR’s basic premise has always made perfect sense to the general public. It requires voter approval for any tax hike at any level of government in the state. And it set limits on the rate at which government budgets can grow. Any increase in tax revenue that exceeds the rates of growth plus inflation in a given year have to be returned to taxpayers. Elected leaders can keep the overage if they first ask voters’ permission.

Click (HERE) to continue reading this story about TABOR:

Sep 04

Here’s the income-tax cut and refund payment Coloradans will get because the TABOR cap was exceeded

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Here’s the income-tax cut and refund payment Coloradans will get because the TABOR cap was exceeded

According to the state controller, the cap was exceeded in the 2020-21 fiscal year, which ended in June, by about $454 million

12:14 PM MDT on Sep 2, 2021


The Colorado State Capitol is seen on Thursday, August 19, 2021, in Denver. (Olivia Sun, The Colorado Sun)

Colorado taxpayers will get a break on their income taxes and a refund payment because the state’s cap on government growth and spending under the Taxpayer’s Bill of Rights was exceeded last fiscal year.

The income tax rate will drop to 4.5% in 2021, down from 4.55%, and individual taxpayers will get an additional sales tax refund payment, on average, of about $70. Joint filers will receive $166 on average.

“These tax cuts and refunds are a strong sign that Colorado’s economy is roaring back,” Gov. Jared Polis said in a written statement. “I’m excited that Coloradans will get another income tax cut and refund that Coloradans can put toward bouncing back from the pandemic, a night out, or groceries.” Continue reading →

Aug 22

Menten: How to weigh in on local TABOR ballot measures

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Menten: How to weigh in on local TABOR ballot measures

 By 

One great, though lesser-known benefit provided in the Colorado Taxpayer’s Bill of Rights (TABOR) is the local ballot issue notice. This guide is sent by mail at least 30-days before the election to all households with one or more registered voters.

The TABOR ballot issue notice includes content and details about upcoming local ballot measures which increase taxes, add debt, or suspend government revenue limits. It includes a section where registered electors have the opportunity to submit FOR or AGAINST comments, up to 500 words each.

You should know that there are two types of TABOR ballot issue notices. One notice is for the statewide elections and commonly referred to as the “Blue Book.” The notice discussed here is for elections held by local governments such as a city, town, school district, or special taxing district. You could potentially get more than one of these notices in the mail.

Several years back, it was discovered that out that of some 300 local tax issues throughout the state during a ballot year, only 15 had the taxpayer’s voice printed in a ballot issue notice.  That’s only 5 percent!  You can make a big difference and amplify your voice by being an author of the next ballot issue notice where you live.  Considering that you reach thousands of voters, being able to submit comments in the TABOR notice costs almost nothing and takes relatively little time & energy.

Click (HERE) to continue reading the rest of this story:

Aug 22

El Paso County commissioners to mull placing tax question on November ballot

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El Paso County commissioners to mull placing tax question on November ballot

081021-news-tabor
A man holds his son’s hand while his other child rides in a carrier on his back, adorned in a bear hat, during a Bear Run at Bear Creek Regional Park event in this file photo from November 2019.

The Gazette file

El Paso County commissioners will take a closer look this month at a proposed November ballot question that, if voters approve, would use $15 million in excess government revenue to fund road infrastructure projects and deferred parks maintenance county officials say are sorely needed.

Commissioners will discuss the possible ballot question during the board’s regularly scheduled meetings Aug. 17 and 24. Residents can come to these hearings to offer input on the possible question before commissioners vote on whether it will make it onto the November ballot. Commissioners expect to vote on the matter Aug. 24.

Colorado’s Taxpayer’s Bill of Rights, or TABOR, ties increases in most local government revenues to a formula based on population growth and inflation. Excesses can only be used for voter-approved purposes.

To continue reading this story, please click (HERE):

Aug 22

Castle Rock looks to voters to ‘de-Bruce’ for 10 years

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TABOR pause would pay for road improvements, police and fire personnel

Posted 
Thelma Grimes
tgrimes@coloradocommunitymedia.com

In November, the Town of Castle Rock will ask taxpayers to pause TABOR for 10 years. TABOR, known as the Taxpayer’s Bill of Rights, was approved in the 1990s, changing the state’s constitution to require all tax increases be approved by voters, limiting how much local and state government can spend.

Castle Rock Town Manager David Corliss said he has no problem with the part of TABOR that requires residents to approve tax increases. However, the restrictions and limits TABOR can put on a municipality to keep up with the cost of growth is a problem, he said.

TABOR is a state tax and expenditure limit that includes the following elements: It is a Colorado constitutional amendment; it restricts revenue or expenditure growth to the sum of inflation plus population change; and it requires voter approval to override the revenue or spending limits.

Colorado is the only state in the nation with TABOR.

Castle Rock Town Attorney Michael Hyman is no stranger to how TABOR has created controversy and issues for state and local municipalities trying to balance a budget. In the 1990s when TABOR was passed by voters, Hyman worked for the City of Aurora.

Click (HERE) to continue reading the rest of this story