DENVER (KDVR) — Eleven out of 12 measures on the Denver Ballot passed, and while there’s the potential for all of them to affect city taxpayers, there are three that guarantee you will pay more. Most have a small increase for the individual or household, but should bring in millions of dollars in yearly revenue.
The first measure is 2A. Expected to raise about $26 million in its first year, consumers will pay about 2.5 cents on every $10 of goods and services. This does not include most essential items like food, gas and feminine items. Revenue will go towards curbing the effects of climate change by creating jobs to diving into key areas like energy and transportation.
Measure 2B is also a sales tax where consumers in Denver will pay 2.5 cents for every $10 of goods and services. Revenue will address ongoing issues of homelessness in the city. In the first year it’s expected to pull in $40 million for shelters, housing, mental health programs and substance abuse services.
Robert Perischette, a financial expert at Metropolitan State University, tells FOX31 many consumers will most likely not notice the slight price increase.
“For most consumers, it will be invisible,” he said. “I think most folks don’t think that much about every purchase and won’t drive to another city to save 5 cents.”
Business owners however, may need to be a bit more diligent.
“Businesses need to be really careful they are withholding the right tax at the right time,” said Perischette.” If it’s not done correctly, they can get a lot of trouble for that.”
Measure 4A increases property taxes within the Denver Public Schools district. A district spokesperson said Wednesday that increase will be $4.25 a month or about $51 a year. That’s based off the medium home value of $465,000.
Then there’s measure 2H which allows Denver to opt out a law that restricted it using tax dollars to build broadband networks. A representative from Mayor Michael Hancock’s office tells FOX31 the city has no plans yet to build a high-speed network so electric bills should not be affected.