Colorado voters’ dissatisfaction with government growing beyond its means led to the passage of the Taxpayer’s Bill of Rights . This constitutional amendment requires voter approval for tax increases and debt. It also limits how fast government can grow. The formula for automatic tax increases is the prior year’s budget plus adjustment for inflation and population growth.
Our TABOR rebates would be diverted into a new “Affordable Housing Fund,” to be split 60/40 between state and local governments. The requirements to release the funds come with damaging, top-down controls. Local elected officials would have to guarantee increasing affordable housing by 3% each year over a baseline number, as well as implementing a 90-day fast track permit approval process.
At what point might local governments discourage and make it more difficult to build single-family homes? Examples abound, including Minneapolis, Oregon, and California banning single-family developments. It seems far-fetched that Colorado would enact these restrictive policies, but that’s what we have to anticipate with passage of this ballot measure.
The author appears to be saying if they had$40 to spend on a gift for a friend and had two options: 1) buy a pair of $40 gloves which is on sale BOGOF or 2) buy a $20 pair and pocket the other $20, they would chose option 2.
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