Higher Taxes Key Issue In State Election

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Higher taxes is a key issue on the ballot for Colorado residents this year.

The nation's only statewide tax vote on the November ballot asks Colorado voters whether they want to temporarily raise taxes to generate $3 billion for classrooms and colleges. It's a proposal that has stirred fierce opposition because of the stagnant economy.

Proposition 103 would raise individual and corporate tax rates from 4.63 percent to 5 percent and Colorado's sales and use tax rate from 2.9 percent to 3 percent.

The vote could serve as a test of voters' mood on tax increases and their frustration after endless rounds of education cuts.

Opponents insist tax hikes will cost jobs and won't by themselves help schools. Some Democratic leaders have declined to publicly endorse the proposal, saying they see little appetite for a tax hike.

Those who support the idea argue that the extra revenue will help offset deep cuts to school funding.

All ballots have to be in by 7 p.m. Tuesday in order to be counted. You can take them to any of the four clerk and recorder locations.

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