Summary
TABOR was enacted in Colorado in 1992 and quickly became the nation's leading state spending limitation. Colorado's TABOR includes a requirement of voter approval before higher state or local taxes or debts may be enacted, a ban on local income taxes and state property taxes, a flat-rate income tax, emergency reserves and comprehensive state and local spending limits tied to inflation increases and population growth. Any surplus revenues must be returned to taxpayers.
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Extract
Colorado Delivers Body Blow to Tabor
By a slender 52%-to-48% margin, Colorado voters on November 1 passed Referendum C, suspending the state's Taxpayer's Bill of Rights (TABOR) for five ...
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