Voters to decide on trio of fiscal measures Tuesday

Colorado voters head to the polls Tuesday where they will decide on a trio of fiscal-related measures.

The three statewide measures voters will decide on are all related to tax or fiscal policy, as required by the state constitution in odd-year elections.

Amendment 78 asks voters if the Legislature should be given control of the state’s “custodial funds,” which is revenue collected by means other than taxes. Currently, the state treasurer is tasked with managing the funds.

Proposition 119 asks voters if the retail sales tax on marijuana should be gradually increased from 15% to 20%. If the measure passes, the revenue generated would fund a new program to provide out-of-school services such as tutoring and mental health services.

Proposition 120 proposes reducing the state’s residential property tax assessment rate from 7.15% to 6.5%, and the commercial property tax assessment rate from 29% to 26.4%. However, if the measure passes, the property tax cuts would only apply to multi-family residential properties and lodging properties because of a bill passed by the Legislature that changed underlying statutes.

Propositions 119 and 120 both need simple majorities to pass, while Amendment 78 needs 55% of the vote to pass since it is a constitutional amendment.

Polling centers across the state will be open from 7 a.m. to 7 p.m. on Tuesday.

Mail-in ballots were sent to all registered voters between Oct. 8 and Oct. 15, and statewide early in-person voting began on Oct. 25. As of Sunday night, 755,631 ballots have been returned, according to the secretary of state’s office.

This article was originally posted on Voters to decide on trio of fiscal measures Tuesday

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