Colorado Amendment 73 will appear on the November ballot and  you may be wondering what it would do to your taxes if it passes.

Basically, the amendment, formerly known as initiative 93 would raise taxes on people who earn at least $150,000. It would also raise the corporate tax rate from 4.6 percent to 6 percent. There would be no change on taxes for those making between $0 and $150,000.

The income tax rate would be 5 percent for income between $150,000 and $200,000; 6 percent from $200,00-$300,000; up to 8.5 percent for income over $500,000/

The measure is also designed to reduce residential and non-residential property taxes, which would certainly affect a large number of us.

The initiative would create a Quality Public Education Fund. The fund would increase per pupil spending by over $7000, and support programs in special education, English language proficiency programs, gifted and talented programs, and pre-school funding.

So, the question is, will you be supporting Amendment 73 on November 6?

A lot of times people vote for or against a measure based on how it may affect them personally. In terms of a tax increase, this is one that is not going to affect most of us, and we may or may not have kids in school. However, you may still want to see extra dollars going into Colorado education. Or, you may feel that it's just not right to have an elite few shoulder the load for the entire state.

Look over the finer points of the amendment and regardless of which way you vote, make an educated and informed decision.

 

[BALLOTPEDIA]