revenue
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Road-funding amendment divides Colorado over $539M general fund shift
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A battle is brewing over funding for Colorado’s roads after a citizen initiative has been cleared to gather signatures to put it on the ballot for voters to decide. Supporters of the proposed constitutional amendment that would change existing law on transportation funding and increase state revenue allotted for road transportation said it would end…
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‘Expect 2027 revenue to remain flat,’ finance officials warn Denver budget planners
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Denver expects little to no revenue growth through 2027. And “flat” growth is a “best-case scenario,” city finance experts told members of the Denver City Council’s Budget and Finance Committee, as preliminary efforts to organize and establish guidance for the 2027 budget planning process kicked off Tuesday. The city anticipates 2027 revenue to remain around…
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Denver recreational marijuana data sheds light on revenues versus cost of industry
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As Colorado Springs voters weigh whether to legalize recreational marijuana sales, proponents are stressing the potential to collect millions in new city tax revenue and opponents have highlighted high costs it could drive for the city. Voters will consider two recreational marijuana questions in November. One that would only allow the existing 115 medical shops…
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Report: Denver lodging bounces back, but lags behind national recovery
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Metro Denver’s hotels saw a strong first quarter, marching – slowly but surely – to pre-pandemic occupancy levels, according to an industry report from real estate giant CBRE. But the recovery remains behind the national average – largely because of the influx of all the newly-constructed, higher-priced hotel rooms that hit the Denver market in recent years.…
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Denver expects to meet its revenue goal from increased parking meter rates
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Denver has more than doubled its revenue from downtown parking meters in the first quarter since doubling the cost from $1 to $2 an hour, according to new figures released by the city. From January through March, Denver generated $3,775,066 in revenue from parking meter fees, while during the same period in 2021 the city generated…
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Polis signs bill extending small business exception from destination sourcing tax law
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Gov. Jared Polis on Monday signed the first bill of the legislative session – a proposal that gives small businesses more time to comply with a major change to where their sales are taxed. The new law, House Bill 22-1027, extends the exception for small businesses, defined as those with retail sales under $100,000, from a 2019 law…
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Elderly Coloradans can begin applying for property tax, rent, heat rebate
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Elderly Coloradans and people with disabilities can start applying for a rebate to help pay their property tax, rent, and heat expenses, the Polis administration announced Monday. Residents can get up to $976 a year, depending on their income levels, the administration said. To be eligible for the Property Tax, Rent, Heat rebate, an individual must…
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Unite for Colorado ordered to pay $40,000 in fines tied to campaign finance complaint
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Unite for Colorado, a dark money group that spent $4 million on statewide ballot measures in 2020, has been ordered to pay $40,000 and divulge its donors. Scott Wasserman of the Bell Policy Center, and Katherine Dorman, a teacher in the Douglas County School District, filed the first campaign finance complaint with the Secretary of…
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Colorado marijuana sales hits $1 billion in first eight months of 2017
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Colorado’s legal marijuana industry generated a record $1 billion in sales during the first eight months of 2017, producing more than $160 million in taxes and fees for critical Colorado services. With more than $1.02 billion in collective medical and recreational sales through August, sales are up 21 percent from the same period last…
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Colorado has raised more than half a billion dollars in cannabis-related revenue
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Colorado has received more than $500 million in marijuana-related revenue since recreational cannabis sales began in 2014, according to a new report. Compiled by the Denver-based marijuana policy firm VS Strategies, the report looked at state data, which was released on Wednesday. Pro-marijuana advocates are expected to hold a news conference at noon on Wednesday,…