Amendment #73 – Douglas County Likely Most Affected

Education Funding at the expense of the few.

Curious which counties will likely be hit the hardest if amendment 73 passes? #1 Douglas, #2 Elbert, #3 Broomfield, #4 Eagle and #5 Pitkin. Here’s a chart from showing Household Income greater than $100k by County as a percent of their total population.

Education Funding at the expense of the few.

The additional Colorado tax brackets added under amendment 73 are not annually adjusted for inflation. This means that over time, more and more taxpayers will pay this tax.

This Initiative, would become Colorado’s version of the former federal alternative minimum tax (or AMT) trap.

Amendment 73 is full of unintended consequences. Fixing the residential assessment rate for education will come at the expense of fire, library, irrigation and water districts; just to name a few.

Amendment 73 undermines the state’s limits on government spending.

By permanently exempting education – the largest program in the state budget – from the state’s voter approved spending caps, 73 is a backdoor scheme to allow big-spending politicians to cost-shift and spend unlimited amounts of tax money on other programs.

Small businesses will be hit hard under Amendment 73. From the Common Sense Policy Roundtable Report.

Under Amendment 73, Colorado’s corporate income tax rate would jump from 43rd to 31st.
From the Fiscal Policy Center:

“If Amendment 73 passes, Colorado will no longer have equal state income tax rates for all. Instead, it will have a progressive state income tax with a top marginal rate of 8.25 percent, the 9th highest in the country. Corporate tax rates will increase from 4.63 percent to 6 percent.

Amendment 73 effectively ends protections against continuous increases in residential property taxes. It increases the state residential property tax assessment rate for school districts. Commercial property will enjoy reduced rates.

Amendment 73 requires spending on “early childhood” through grade 12 education that is limited only by the additional taxes collected.

Amendment 73 reduces legislative oversight by locking increased spending into the state constitution.

There is no guarantee that more spending will increase educational opportunities for existing students.

Amendment 73. A 29.6% increase for incomes $200-300k. A 51.2% increase for incomes between $300 and $500k!!!!

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