State’s economy continues to grow

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State’s economy continues to grow

More revenue could mean refund for Colo. taxpayers
How TABOR works

Colorado’s voters approved the Taxpayer’s Bill of Rights as a constitutional amendment in November 1992.
The measure limits taxing and spending increases by the state and local agencies to the level of inflation plus the percentage growth in population. For instance, if inflation is at 2 percent and population is at 1 percent, the state can increase spending and taxing by 3 percent.
Revenue from taxes collected in excess of the constitutional amendment’s limit must be refunded to the taxpayers.
The state can ask voters to allow it to keep revenue beyond the limits set in the amendment.
Center on Budget and Policy Priorities

State’s economy continues to grow

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