Government & Politics  December 23, 2014

BoCo flood-recovery tax kicks in Jan. 1

BOULDER — Sales and use taxes in Boulder County will rise – barely – on Jan. 1, thanks to a flood-relief assessment passed by voters in November.

The voter-approved 0.185 percent Flood Recovery Tax is projected to generate $49.6 million in revenue over the next five years to help close the gap between what the county is spending on recovery from the September 2013 flood and the reimbursements from federal and state governments.

Before reimbursements, the county has projected that it will have spent about $217 million on projects related to flood recovery in those five years. It expects a $56 million shortfall between what it spends on flood recovery and the reimbursements it eventually gets. Without the Flood Recovery Tax, the county likely would have had to cut other services to carry out the repair work.

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The additional tax, which will be collected through the end of 2019, will raise sales and use tax rates in the county from 0.8 percent to 0.985 percent, depending on the locality. People in unincorporated areas pay only the county sales and use taxes, while those living in municipalities also must pay whatever those additional city taxes are.

More information is online at bouldercounty.org/gov/budget/pages/salesusetax.aspx.

 

 

 

BOULDER — Sales and use taxes in Boulder County will rise – barely – on Jan. 1, thanks to a flood-relief assessment passed by voters in November.

The voter-approved 0.185 percent Flood Recovery Tax is projected to generate $49.6 million in revenue over the next five years to help close the gap between what the county is spending on recovery from the September 2013 flood and the reimbursements from federal and state governments.

Before reimbursements, the county has projected that it will have spent about $217 million on projects related to flood recovery in those five years. It expects a $56 million…

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