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2025-2026
The title as designated and fixed by the Board is as follows:
A change to the Colorado Revised Statutes concerning a reduction to the state income tax by 4.55% beginning January 1, 2027, thereby reducing state revenue, which will reduce funding for state expenditures that include but are not limited to higher education, human services, and corrections by an estimated $647 million in tax revenue and will not reduce funding for the departments of education and health care policy and financing, by reducing the state income tax rate from 4.40% to 4.20% beginning January 1, 2027, resulting in the estimated change in income taxes owed by individuals identified in the table that follows:
Change in Income Taxes Owed by Income Category (Tax Year 2027)
| Income Categories* | Current Average Income Tax Owed |
Proposed Average Income Tax Owed |
Proposed Change in Average Income Tax Owed + or - |
|---|---|---|---|
| $25,000 or less | $58 | $44 | -$13 |
| $25,001 - $50,000 | $758 | $586 | -$172 |
| $50,001 - $100,000 | $1,897 | $1,466 | -$431 |
| $100,001 - $200,000 | $4,137 | $3,196 | -$940 |
| $200,001 - $500,000 | $9,248 | $7,146 | -$2,101 |
| $500,001 - $1,000,000 | $18,028 | $13,931 | -$4,097 |
| $1,000,001 - $2,000,000 | $26,419 | $20,415 | -$6,004 |
| $2,000,001 - $5,000,000 | $40,671 | $31,428 | -$9,243 |
| * Adjusted Gross Income reported to the federal Internal Revenue Service. | |||
The ballot title and submission clause as designated and fixed by the Board is as follows:
Shall there be a change to the Colorado Revised Statutes concerning a reduction to the state income tax by 4.55% beginning January 1, 2027, thereby reducing state revenue, which will reduce funding for state expenditures that include but are not limited to higher education, human services, and corrections by an estimated $647 million in tax revenue and will not reduce funding for the departments of education and health care policy and financing, by reducing the state income tax rate from 4.40% to 4.20% beginning January 1, 2027, resulting in the estimated change in income taxes owed by individuals identified in the table that follows?
Change in Income Taxes Owed by Income Category (Tax Year 2027)
| Income Categories* | Current Average Income Tax Owed |
Proposed Average Income Tax Owed |
Proposed Change in Average Income Tax Owed + or - |
|---|---|---|---|
| $25,000 or less | $58 | $44 | -$13 |
| $25,001 - $50,000 | $758 | $586 | -$172 |
| $50,001 - $100,000 | $1,897 | $1,466 | -$431 |
| $100,001 - $200,000 | $4,137 | $3,196 | -$940 |
| $200,001 - $500,000 | $9,248 | $7,146 | -$2,101 |
| $500,001 - $1,000,000 | $18,028 | $13,931 | -$4,097 |
| $1,000,001 - $2,000,000 | $26,419 | $20,415 | -$6,004 |
| $2,000,001 - $5,000,000 | $40,671 | $31,428 | -$9,243 |
| * Adjusted Gross Income reported to the federal Internal Revenue Service. | |||
Hearing April 16, 2025
Single subject approved; staff draft amended; titles set.
Board members: Theresa Conley, Jason Gelender, Kurt Morrison
Hearing adjourned 12:23 PM.
* Unofficially captioned "Income Tax Rate" by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.