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<br />... The CU Policy Collaborative <br /> <br />e <br /> <br />The CU Policy Collaborative continues to examine Colorado's local goverrunents- <br />counties, municipalities, school districts, and special districts - for the fiscal impacts <br />that flow from existing and proposed amendments to the state's constitution. Various of <br />the studies have identified and quantified the trends in county and municipal revenues and <br />expenditures after the Gallagher and TABOR amendments. This report takes a look at <br />the property tax implications TABOR 205, an initiative measure, proposed for the <br />November, 2000 general election ballot, to again amend the state's constitution. If <br />adopted by voters, the TABOR 205 proposal will mandate perpetually escalating tax cuts <br />for several different kinds of taxes. This report looks at only one of these taxes-ad <br />valorem property tax-for only the first year. A more in-depth analysis of the continuing <br />impact of the proposal on property and other taxes awaits additional resources. <br /> <br />The Latest Initiative <br />Proposal: TABOR 205 <br /> <br />TABOR 205, authored and promoled by Douglas Bruce, would further amend the <br />language of the original TABOR amendment and lhe Colorado constitution by adding a <br />new section: <br /> <br />"(8){d) Tax Cuts. A $25 tev; cut. increased 525 yearly (to 550. $75 .. .), shall <br />lower each tax in each ta.r: bill (emphasis added) for each 2001 and later district: <br />utility customer and occupation ta.r: andfranchise charge; vehicle sales, use. and <br />ownership tax; yearly income tax; property tev::; income and property tax equal to <br />yearly revenue from sales and use ta.r:es on food and drink other than tobacco and <br />alcohol; and income tax equal to yearly revenue from estate taxes. (8){d) tax cuts <br />and state replacement of local revenue shall not lower state or local excess <br />revenue, the state may limit local acts increasing replacement costs, joint income <br />tax returns equalrwo tax bills, and al/orney fees and costs to enforce (8)(d) shall <br />alwavs (emphasis original) be paid to successful plaintiffs only. " <br /> <br />tit <br /> <br />On May 25 the Colorado Secretary of State announced that enough valid petition <br />signatures have been submitted for the initiative proposal to be placed on the November, <br />2000 general election statewide ballot. <br /> <br />Local Governments Studied <br /> <br />According to the Colorado Department of Local Affairs, at the end of 1998, there were <br />2,129 active local governments in the state. These included 63 counties (with the city and <br />county of Denver), 268 municipalilies, and 176 school districts, with the remaining 1,600 _. <br />being a variety of special districts. The special districts provide a wide variety of services _ <br />and facililies, including among others, hospitals, libraries, recreation and parks, <br />ambulance and emergency services, fire protection, cemetery maintenance, pest control <br /> <br />Page 1 <br />