GRAND JUNCTION, Colo. (KKCO) Amendment 66 proposes changing tax rates for every Colorado resident to benefit schools.
Currently, all taxable income is taxed at a flat rate of 4.63%. If passed, Coloradans would be taxed 5% on the first $75,000 of their taxable income and 5.9% for each dollar after that $75,000.
In Mesa County the average household income is nearly $53,000, which means residents would pay about $122 extra if the amendment passes.
The proposal guarantees by law the money collected from the taxes will go to a special education fund and the school board of each district will spend it on what they feel needs funding.
To find out how much your taxes will increase visit www.ColoradoCommits.com click on the tax calculator.
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