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How Are You Voting on Amendment 73?
Yes 28%  28%  [ 5 ]
No 72%  72%  [ 13 ]
Undecided 0%  0%  [ 0 ]
Total votes : 18
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 Post subject: Amendment 73 Funding for Public Schools
Post Posted: Oct 4, 2018 8:20 am 
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From the Colorado Secretary of State:

Quote:
Amendment 73
2017-2018 Proposed Initiative #93
Funding for Public Schools

Petition Statement of Sufficiency (PDF)
Ballot question
Text of measure (PDF)
Ballot analysis

Designated representatives

Martha Olson
3123 Third Street
Boulder, CO 80304
917-604-7077

Donald J. Anderson
4430 Vista Drive
Fort Collins, CO 80526
970-214-5717

Registered issue committees

Favor

Great Education Colorado Issue Committee
Registered agent: Lisa Weil
1355 S. Colorado Blvd., Suite C-500
Denver CO 80222

Yes on Amendment 73
Registered agent: Mindy Baker
289 Lewis Lane
Craig CO 81625
970-761-3226

Win the Fourth Colorado Issue Committee
Registered agent: Richard Marsh
636 Coffman St #200
Longmont CO 80501
303-817-2022

Oppose

Don't Turn Colorado Into California
Registered agent: Jim Kerr
6732 W. Coal Mine Ave., #235
Littleton CO 80123

State Ballot Issue Committee
Registered agent: Douglas Bruce
PO Box 26018
Colorado Springs, CO 80936
719-550-0010

Fix Our Damn Roads
Registered agent: Katie Kennedy
727 E. 16th Avenue
Denver CO 80203
719-369-2266

Blank Check. Blatant Deception.
Vote No on 73
Registered agent: Dave Davia
403 S Reed Ct
Lakewood CO 80226
303-757-3956


Final Ballot Analysis

The final analysis is too long to include here, please follow the above link.

Final Fiscal Notes

Please follow the link above for the full fiscal inpact notes.

Quote:
Estimate of Fiscal Impact

State revenue. The measure increases state revenue by $750.9 million in budget year 2018-19 (half-year impact) and $1.6 billion in budget year 2019-20. This amount is from individual income taxes and corporate income taxes. This revenue is exempt from constitutional spending limits and must be used for educational purposes identified in the measure.

State expenditures. The measure increases state expenditures by $174,933 in budget year 2018-19 for administrative costs. In budget year 2019-20, the measure increases expenditures for education by $1.6 billion. Revenue generated in other years must also be spent on education.

School district impact. The measure increases school district revenue by a minimum of $866 million and up to a net $1.5 billion in budget year 2019-20, the first full fiscal year the measure is implemented. The minimum spending represents the funding requirements specified in the measure; the maximum increase is the result of the $1.6 billion in new state revenue in budget year 2019-20, and a $62.4 million decrease in revenue from property taxes.

Local government impact. The measure increases costs for county assessors an treasurers offices to update computer and data systems related to the changes in assessment rates. Specific costs will vary among counties.


Quote:
As referenced in the ballot analysis for Amendment 73, the following link provides an interactive Geographic Information System (GIS) map created by Colorado Legislative Council Staff. For each school district in the state, the map provides information about the estimated change in a property tax bill under Amendment 73.


Interactive Map

From Ballotopedia: Amendment 73, Establish Income Tax Brackets and Raise Taxes for Education Initiative]

Quote:
Overview

What would Amendment 73 do?

The measure would increase income taxes for people earning above $150,000 per year. The increases would be according to brackets, rather than the state's current flat tax rate of 4.63 percent. There would be no change in income taxes for those earning between $0 and $150,000, which would continue to be taxed at the current tax rate of 4.63 percent. For taxable income between $150,001 and above, the new tax rates would be between 5 and 8.25 percent. The brackets under the measure are shown in the chart below.

The measure would decrease property taxes levied by school districts, though it does not affect property taxes levied by other local governments. Under the measure, the property tax rate for residential property would be decreased to 7 percent from 7.2 percent and the non-residential property rate would be decreased to 24 percent from 29 percent. The initiative would also increase the corporate tax rate from 4.63 percent to 6 percent.

The measure would establish a fund called the Quality Public Education Fund. Revenue generated from the new taxes would be dedicated to the Quality Public Education Fund to fund preschool through 12th-grade public education. Specifically, the fund would be used to increase the statewide base per-pupil funding and increase spending for special education, preschool, English language proficiency, and gifted programs, among other things.

How would the new income tax rates affect me?

Those making less than $150,000 per year would see no changes to their income tax rate and would continue to be taxed at the current tax rate of 4.63 percent.[1]


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 Post subject: Re: Amendment 73 Funding for Public Schools
Post Posted: Oct 4, 2018 11:29 pm 
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there are some aspects of this amendment i did not like but several i did. also, the impact on school funding will be greatly negatively impacted if prop 112 passes. unfortunate timing, but i was gonna go non-voted on this amendment. changing opinions welcome.


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 Post subject: Re: Amendment 73 Funding for Public Schools
Post Posted: Oct 5, 2018 6:46 am 
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where is the $100 million dollars of marijuana tax revenue ear marked for the schools?


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 Post subject: Re: Amendment 73 Funding for Public Schools
Post Posted: Oct 5, 2018 7:27 pm 
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spurdude wrote:
where is the $100 million dollars of marijuana tax revenue ear marked for the schools?

The first forty million dollars received and collected from the excise tax on retail marijuana earned annually from the recreational marijuana industry is transferred into the BEST Program Assistance Fund. The RE-2 District of Park County received some big chunks of money for new or enlarged schools.


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 Post subject: Re: Amendment 73 Funding for Public Schools
Post Posted: Oct 5, 2018 10:22 pm 
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The biggest concern I have for this is not the income tax but the property tax being put at 7.0% instead of 7.2%. I have no idea how that is possible with the Gallagher amendment which tends to keep lowering the residential rate and raising the business rate. Last year it went down from 8.0 to 7.2%. Every two years it is reset so the next time it would probably drop to about 6.5% because housing values have increased so much. Does this mean it would be 7.0 instead of 6.5%?? I will vote no if I can't get more definitive answers regarding the interaction of TABOR and Gallagher amendments interacting with this one.
I also have concern with the "soak the rich" aspect becasue if those people move out to lower tax states, that hurts tax income. I am amazed that only 3 times as many people make $150-$200K compared to the over $500 group! Also, increasing business taxes on top of the high property tax they pay could also be a huge dis-incentive.


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 Post subject: Re: Amendment 73 Funding for Public Schools
Post Posted: Oct 10, 2018 11:39 pm 
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After looking at the big blue book that was just sent today, I realized how BIG a tax increase this amendment really is - and it would be embedded in our convoluted constitution. If this passes, the residential tax % is projected to be 7.0% instead of 6.1%. This is nearly a 15% increase - which would only get worse in future years! There is NO adjustment for inflation for the income tax portion and the tax amounts stated are for singles OR joint returns. If your gross COMBINED income is over $150K then you would owe additional tax. Even income from many "businesses" actually count toward personal income and that would go up as well.

Another bad thing. This doesn't even guarantee that the schools would get the additional money! The state could easily decide to send less STATE money toward schools (approx 65% of the total school funding) because they could argue that this is the funding mechanism for schools and free up "other" funds for other budget items.

Now I'm a definite NO on this one. I'd rather the school funding issues be more dependent on local resident's wishes - like the Jeffco 5A and 5B tax increases on the ballot. I'm leaning towards voting FOR those but not this.


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 Post subject: Re: Amendment 73 Funding for Public Schools
Post Posted: Oct 11, 2018 7:59 am 
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spurdude wrote:
where is the $100 million dollars of marijuana tax revenue ear marked for the schools?

And the taxes just went up to over 25% for marijuana. ROFL

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