Home Uncategorized Colorado voters reject marijuana tax hike, two other statewide ballot measures

Colorado voters reject marijuana tax hike, two other statewide ballot measures

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Other measures would have reduced property tax assessment rates, required all state spending to go through legislature

Colorado voters defeated Proposition 119, a proposed increase to the state’s retail marijuana sales tax that would have helped fund out-of-school learning efforts, as well as the two other statewide measures in Tuesday’s election, according to unofficial results.

Proposition 120 and Amendment 78 called for a reduction in property tax assessment rates and a requirement for all state spending to go through the Colorado legislature, respectively.

More than 1.2 million Colorado voters had cast ballots as of 5 p.m. Tuesday — about 31% of the state’s active registered voters.

They rejected Proposition 119 by 54.49% to 45.51%; Proposition 120 by 56.63% to 43.37%; and Amendment 78 — which would have required 55% of the vote to pass — by 56.89% to 43.11%, according to results posted at 8:22 a.m. Wednesday.

Proposition 119 called for a 5-percentage-point increase on the state’s 15% sales tax for retail marijuana by 2024 (starting with a 3% rate increase in 2022 and 4% in 2023). The money raised would have gone toward out-of-school enrichment programs with a priority on children from low-income households. It had both bipartisan support and opposition.

Proponents conceded defeat Tuesday night, saying the results of the election would only make the achievement gap between students from wealthy families and those from low-income households worse.

“Access to affordable, quality after-school education services is not a possibility for many families living in Colorado — and we will work with anyone who has a better idea on how to tackle the problem,” Curtis Hubbard, a Yes on Prop 119 campaign spokesperson, said in a statement. [Read More @ The Denver Post]

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The post Colorado voters reject marijuana tax hike, two other statewide ballot measures appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

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