Ballot Initiative 93

Ballot Initiative 93 is known as the “Great Schools, Thriving Communities” ballot measure, and the proposal hopes to expand “educational opportunities for our students to prepare them for success in college, career and life.” (Great Education Colorado Action). To be placed on the ballot, 98,492 signatures need to be collected on the official petition by July 11, 2018.

There are three essential points to the budget language. Initiative 93 would create a tax on federal, taxable income above $150,000 for individuals and one on corporations. The increased income from federal taxes would be legally required to be put into a “quality public education fund” (Initiative 93). The new brackets would appear as follows:

• No change for income between $0 and $150,000;
• 0.37 percent (an average of $81) for income between $150,000 and $200,000;
• 1.37 percent (an average of $729) for income between $200,000 and $300,000;
• 2.37 percent (an average of $3,456) for income between $300,000 and $500,000; and
• 3.62 percent (an average of $42,528) for income above $500,000.
• 1.37 percent for corporations

Additionally, Initiative 93 would decrease assessment rates for both residential and non-residential property in Colorado. According to the Greeley Tribune, “the assessment rate is the percentage of your home’s value at which you’re taxed.” The new rates would shift from 7.2% to 7.0% for residences and 29% to 24% for nonresidences, essentially decreasing the amount of money one must spend on property taxes to account for the increase in income taxes. Finally, under the initiative, only public schools could utilize funding from the increased income taxes and that funding would be required to increase by inflation each year (up to a maximum of 5% per year).

The priorities of the initiative are to increase base funding for all students, provide funding for full-day kindergarten in Colorado, expand the definition of students “at-risk” to include all who qualify for free and reduced lunch, and increase the amount of state funding for English Language Learners, Special Education programs, and Gifted and Talented programs. (Great Education Colorado Action).