DENVER (CBS4)– Voters in Denver will decide in November whether to let the city keep millions of dollars in property tax dollars it collects but can’t keep.
The City of Denver currently must return $68 million a year because of TABOR limits. TABOR stands for the Tax Payer Bill of Rights. It was authored by anti-tax crusader Douglas Bruce.
The Denver City Council approved a measure Monday to put a measure on the November ballot that would get rid of those refunds.
That would cost the average homeowner about $111 per year.
The goal is to help eliminate Denver’s $30 million budge gap.
Voters in many other cities and counties across Colorado have approved similar measures.