This constitutional structure was born from a broader national movement aimed at curbing unchecked government expenditure and returning fiscal control to the citizens. How the Formula Calculates Revenue Limits The calculation behind TABOR is precise, utilizing the prior year's general fund revenue and adjusting it based on the sum of inflation and population growth.
Direct Democracy Colorado TABOR Votes: Voter Control on Revenue Limits
The mechanism ties revenue growth to a combination of population growth and inflation, requiring voter approval for any revenue increases beyond this calculated cap. While the framework protects taxpayers from excessive levies, it also presents challenges for agencies seeking to expand programs or adjust to unforeseen costs.
Changes such as the "de-Brucing" of the formula, enacted through voter-approved measures, have allowed for increased state spending on education without requiring a separate referendum for every dollar. Alternatively, the legislature can propose a referendum to allow the state to retain and spend the surplus revenue.
Direct Democracy Colorado TABOR Votes: Voter Control on Revenue Limits
Origins and Constitutional Foundation Established through a voter-approved amendment in 1992, the TABOR formula was designed to limit the growth of government spending. " When this occurs, taxpayers receive refunds or credits.
More About Colorado taxpayer bill of rights
Looking at Colorado taxpayer bill of rights from another angle can help expand the discussion and give readers a second clear paragraph under the same section.
More perspective on Colorado taxpayer bill of rights can make the topic easier to follow by connecting earlier points with a few simple takeaways.
