The people have decided. On November 6th, the Colorado electorate had decided to not pass Amendment 73, which would have established a new, more intricate tax system for education. With the fall of this initiative come ramifications for our school system.
In LPS alone, per student cost would be dropped by over $700 dollars. To put that in perspective, that’s the cost of 4 and a half chromebooks. To meet these new budget restrictions, our district will have to make several hard decisions in the coming years. For those who had supported this initiative, this is quite disappointing news.
However, for those that were hesitant towards this initiative, this is a victory. These new tax increases are arguably job killers. In Arapahoe county alone, median income in a two worker household is nearly $100,000 dollars, and a tax increase that affects households with incomes of $150,000 or more would disproportionately affect a larger amount of households.
For a tax increase from 4% to 6-8% for these households would possibly pronounce the death knell of our economy. Taxes on businesses would also increase, and these combined effects could have led to a flight of rich taxpayers and businesses both small and large away from Colorado, decreasing our state GDP and our investments into the local economy.
For good or ill, Amendment 73 has not passed, and has ushered in a new era for our community and our school system.