Colorado Looking to Fund Equity and Affordable Housing Programs By Reducing Tax Refunds
In September, the average sales price for a single-family home in Colorado was almost $670,000. That’s a number most first-time home buyers and lower-income families find difficult to swallow.
As a result of Colorado’s sky-high housing costs, state legislators have taken measures to increase affordable housing.
But Nov. 8 is the first time Colorado voters get to voice their opinion on the matter by either voting for or against Proposition 123, “Dedicate Revenue for Affordable Housing Programs.”
If passed, the measure will set aside tax revenue for affordable housing projects in Colorado and exempt the income from Colorado’s constitutional revenue limits, called the Taxpayer’s Bill of Rights, or TABOR….