Colorado Voters Decide on Income Tax Changes
Colorado voters will choose between capping income taxes at 4.4% or adopting a graduated-rate income tax system.
Why it matters
This decision could affect how much residents pay in taxes depending on their income level.
Current tax rate
The existing income tax rate in Colorado is 4.4 percent.
Proposed changes
One proposal would cap income taxes at the current 4.4 percent rate, while the other would introduce a graduated-rate system for individuals and corporations.
Common questions
What is the difference between the two proposals?
One would keep the current 4.4% rate, while the other would replace it with a graduated-rate system where higher earners pay more.
Sources
- Colorado’s Election Day Choice on Income Taxes By Jared Walczak, Tax Foundation · taxfoundation.org
Headlines and links belong to the publishers listed above. The summary above is written by The Rate Brief; see how this works.
