Colorado voters repeal Gallagher Amendment | SummitDaily.com
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Colorado voters repeal Gallagher Amendment

By Brian Eason
The Colorado Sun

Colorado voters approved Amendment B and jettisoned the Gallagher Amendment in a landslide, repealing the landmark constitutional provision that has delivered more than $35 billion in property tax cuts to homeowners and fundamentally reshaped government spending over the last four decades.

The Associated Press called the race after 10 p.m., with 57.8% in favor of repeal and 42.4% opposed.

The results represent a major victory for top state lawmakers, business leaders and liberal fiscal reform advocates who have been trying for years to get voters to relax some of Colorado’s unique constitutional restraints on taxes and public spending.

The decision prevents an estimated $491 million in cuts to school districts and another $204 million in cuts to county governments next year, amid a financial crisis that could get worse as coronavirus cases spike across the state. Those figures don’t even include the potential impact on cities or to special districts that provide essential services like fire protection and health care if Gallagher remained in place.

In exchange, voters will be giving up an estimated 18% residential property tax cut that was expected to take effect in 2021. For homeowners and renters that means forgoing some financial relief even as the pandemic and economic crisis enters a new phase.

Read more at ColoradoSun.com.

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