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Wednesday, November 03, 2010

Amendments 60 & 61

A significant debate right now is the controversy regarding ballost 60 & 61 for the upcoming election. In short, here is a brief rundown of these ballot measures: Amendment 60 proposes to cut property taxes in half by 2020 and expects schools to replace current revenue with state aid; Amendment 61 proposes to disallow state/government borrowing without approval, and puts a 10 year limit on the time to pay back loans.

Amendment 60 would require utility companies to pay about $440,000 in property taxes over a six year period. On the surface, this may seem somewhat innocent, but the money has to come from somewhere, and we know from the trickle-down effect that this money will come from us. In addition, Amendment 61 would hinder utility's capability to fund the southern delivery sytem pipeline becaus borrowing of any kind would be harder and more expensive. The amendments will enforce new higher property taxes on water and electric infrastructure under Colorado Springs Utilities which will in due time mean higher utility bills for citizens.

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