Updated at 9:22 p.m.
DENVER — Proposition 121, which would lower the state income-tax rate to 4.40% from 4.55%, was leading by a sizable margin Tuesday night, 65.20% to 34.80%, with 1,608,637 votes counted.
The income-tax reduction would apply to individuals and corporations.
If it passes, this would be the second time in three years that Coloradans voted to reduce income tax. In 2020, a proposition to reduce it to 4.55% from 4.63% passed 57.86% to 42.14%.
The proposition is endorsed by state Sen. Jerry Sonnenberg and supported by organizations such as the Independence Institute and Coloradans for Civil Liberties. It is opposed by the economic think tank Bell Policy Center.
This story will be updated as more votes are tabulated.