Note: This article is meant to alert all special districts that the proposed amendments can and or will (if passed) affect special districts. We ask that you read the following information and watch your email for updates. If you have comments or questions please contact Ann Terry, ann.terry@sdaco.org or Evan Goulding, evan@sdaco.org.
Estimated impacts by Colorado Strategies and Bell Policy Center. Subject to revision.
Amendment 60 amends TABOR
- Mill Levy Phase-out: non-college school districts mill levy for non-debt related revenues is to be cut in half, with a required state backfill.
- $1.2 billion requirement for the State
- Requires Enterprises and Authorities to pay property taxes; cuts mill levies to offset revenue
- Local: some water, fire, sewer, many others
- State: Higher Education, Wildlife, Correctional Industries
Amendment 61 amends TABOR
- Bans all levels and divisions of government from bonding/COPs/lease-purchase/tax anticipation, including those with authority now;
- State example: would prohibit Treasurer from managing school finance before property taxes come in
- Limits voter-approved borrowing to maximum 10 years
| Provisions | State Impact | Local Impact | Comment |
|---|---|---|---|
| Reduce SO Tax | $250 million in backfill to schools | $500 million in reduced revenue | |
| Reduce Registration Fees | $375 million | Of the total state impact, $110 million of it will be felt at the local level. | There will be impacts to the State Patrol and Ports of Entry programs. |
| Income Tax Reduction | $1.2 billion | This impact may take many years to materialize. Impact is based on current tax base. | |
| Vehicle Sales tax Reduction | $122 million | $122 million | |
| Relecommunication | $4.5 million | Additional $72 million in privately managed funds. |