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Colorado to see ‘enormous decrease’ in revenue, less TABOR refunds because of new tax laws
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coloradopolitics.com, State

Colorado to see ‘enormous decrease’ in revenue, less TABOR refunds because of new tax laws

By Marianne Goodland | Colorado Politics The latest revenue forecast for Colorado's state government reflected the effects of some of the 30 laws approved this year that changed tax policy, resulting in less revenue for state operations and decreased Taxpayer's Bill of Rights refunds to residents.  The overarching message is the 2024-25 budget was tight — and 2025-26 is going to be even tighter. And that doesn't yet include the potential effects to the state budget from two ballot measures that could require the state to backfill up to $3 billion to cover lost property tax revenue for school districts and local governments. READ THE FULL STORY AT COLORADO POLITICS
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State taxpayers to lose $2.8 billion in TABOR refunds due to legislature, study shows
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coloradopolitics.com, State

State taxpayers to lose $2.8 billion in TABOR refunds due to legislature, study shows

By Noah Festenstein | Colorado Politics As a result of 101 bills passed by the Colorado legislature, over $2.8 billion in state TABOR refunds will not go to Colorado taxpayers between 2024 and 2026, according to a recent report from the Common Sense Institute. The $2.8 billion loss is just less than half of the projected $6 billion in TABOR refunds for the next three years, CSI found in its report following the 2024 Colorado legislative session. “Legislators focused intensely on TABOR refunds this session,” CSI Mike A. Leprino Fellow Lang Sias said in a statement. “What started a few years ago,” he said, “has snowballed into what we saw play out during the 2024 session where more than 100 bills redirected TABOR refunds.” READ THE FULL STORY AT COLORADO POLITICS
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Who Raided Your Share of $2.8 Billion in TABOR Tax Refunds?
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Rocky Mountain Voice, State

Who Raided Your Share of $2.8 Billion in TABOR Tax Refunds?

By Rocky Mountain Voice Staff As a result of 101 bills passed by the Colorado legislature, over $2.8 billion in state TABOR refunds will not be distributed to Colorado taxpayers between 2024 and 2026, according to a recent report from the Common Sense Institute (CSI). This amount represents nearly half of the projected $6 billion in TABOR refunds expected over the next three years. Key Findings: The $2.8 billion loss in TABOR refunds is attributed to various tax cuts and the costs of bills impacting TABOR. The legislature's actions during the 2024 session have significantly redirected funds meant for taxpayer refunds. CSI's report indicates that TABOR refund cuts will increase over the next three years, with reductions of $523 million in 2024, $1.06 billion in 2025, and $1.25 ...
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Colorado owes taxpayers $34M in refunds it never sent. That means trouble for the state budget. 
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State, The Colorado Sun

Colorado owes taxpayers $34M in refunds it never sent. That means trouble for the state budget. 

By Brian Eason | The Colorado Sun The state government owes Colorado taxpayers an extra $34 million in refunds it should have sent out years ago, legislative budget staff told lawmakers Friday, blowing a hole in the state’s budget with just days left in the 2024 legislative session. The error was first uncovered by a state audit released in February. State officials had planned to come up with a solution by June, but after conferring with the Colorado Attorney General’s Office, Joint Budget Committee staff members say the matter can’t wait until after the session. “We really don’t have any choice,” JBC Director Craig Harper told the budget writing committee Friday. “That’s an under-refund from prior years and will need to be refunded at the earliest available opportunity.” ...
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Democrats make deal with governor to redirect TABOR refunds to low-income families
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State, The Colorado Sun

Democrats make deal with governor to redirect TABOR refunds to low-income families

By Brian Eason and Jesse Paul | The Colorado Sun Democrats in the Colorado legislature on Tuesday announced a deal with Gov. Jared Polis to make sweeping changes to the state tax code that reduce income taxes and redirect hundreds of millions of dollars of taxpayer refunds to low-income parents and the middle class. The tax package, spread across a handful of different bills in the final days of this year’s lawmaking term, represents an escalation of the legislature’s recent efforts to reimagine the Taxpayer’s Bill of Rights — a darling of the conservative movement — as a vehicle for progressive policy. Under the TABOR amendment, the government must refund money to taxpayers when revenue rises faster than the combined rate of inflation and population growth. This fiscal year, it’s...
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The votes are in and here’s what Colorado lawmakers want to spend money on
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denvergazette.com, State

The votes are in and here’s what Colorado lawmakers want to spend money on

By Marianne Goodland | Denver Gazette The votes are in following House Democrats' new process for determining which bills would pass, assuming the money is there. The new process, as outlined by House and Senate Democrats in early April, replaces the "quadratic" voting system that a Denver District Court ruled in January is illegal.  Once the 2024-25 state budget headed back to the Joint Budget Committee, which came with a compromise version approved by both the House and Senate, lawmakers got to work voting on their priorities for the scant amount of money, relatively speaking, that they have to spend on new programs. The "set-aside" from the Joint Budget Committee, the panel of lawmakers that drafts the state's annual spending plan, is around $22 million, but some of tha...
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Martinez: Court sends a reminder; tax hikes require voter consent
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Commentary, completecolorado.com, State

Martinez: Court sends a reminder; tax hikes require voter consent

By Tyler Martinez | Complete Colorado In a major victory for taxpayers, a unanimous panel of the Colorado Court of Appeals agreed with the National Taxpayers Union Foundation’s Taxpayer Defense Center (NTUF) that an overnight doubling of the property taxes in a few Northern Colorado counties violated the Colorado Taxpayer’s Bill of Rights (TABOR). We represented James Aranci and his neighbors, who were shocked to learn in 2020 that their property taxes to the Lower South Platte Water Conservancy District doubled from 2019 to 2020 (and the years thereafter). TABOR mandates a ratification vote of any proposed tax increase or new debt taken on by government entities–including water districts. But there was no vote from Aranci or anyone else. So we came...
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TAX DAY: Colorado tax experts busy this season due to state TABOR refund
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CBS 11 KKTV, State

TAX DAY: Colorado tax experts busy this season due to state TABOR refund

By Kasia Kerridge | CBS 11 Colorado Springs Tax Day marks the last day to file your taxes, or you will need to get an extension. The IRS is estimating 19 million taxpayers will file for an automatic six-month extension. Although an extension grants extra time to file, the IRS says it does not extend the obligation to pay. “There’s two penalties you can face if you owe the IRS money by the deadline. The first is the failure the file penalty, and that one is 5% of the unpaid taxes. That one is very severe, and you can avoid that one by filing an extension. The second one is a failure to pay penalty. That one is .5% of the unpaid taxes,” said David Fruh of Jackson Hewitt Tax Services in Colorado Springs. READ THE FULL STORY AT CBS 11 COLORADO SPRINGS
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Natelson: Myth busting distinctions between ‘democracy’ and ‘republic’
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completecolorado.com

Natelson: Myth busting distinctions between ‘democracy’ and ‘republic’

By Rob Natelson | SOURCE: COMPLETE COLORADO PAGE TWO In 2011, a group of politicians and special interests sued in federal court to void Colorado’s Taxpayer’s Bill of Rights (TABOR). The case was Kerr v. Hickenlooper. The plaintiffs’ primary argument was that TABOR violated the U.S. Constitution’s Guarantee Clause (Article IV, Section 4), which says in part, “The United States shall guarantee to every State in this Union a Republican Form of Government.” The plaintiffs contended that to be a “republic,” a state must make taxing and spending decisions through elected representatives only. They based this on a misreading of James Madison’s Federalist No. 10 essay—while ignoring everything else Madison and other Founders said about republican and democratic governance. The plainti...
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Caldara: Let’s bring back 4-year TABOR overrides
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completecolorado.com, State

Caldara: Let’s bring back 4-year TABOR overrides

By Jon Caldara | SOURCE: COMPLETE COLORADO PAGE TWO (You can listen to this column, read by the author, here.) The former head of the leftist ProgressNow Colorado, who is married to a U.S. congresswoman living in Jefferson County, has donated to the election campaigns of all three of the current Jefferson County commissioners. So, what a coincidence those same Jefferson County commissioners, all Democrats, are now going to pay him $180,000 to help dupe taxpayers out of TABOR refunds. As reported by the news site CompleteColorado.com (a project of Independence Institute, which I run), 7th Congressional District U.S. Rep. Brittany Pettersen’s husband, Ian Silverii, has just inked a spectacular deal from Jefferson County. His firm “won” a $340,000 con...
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