Vail voters to decide on sales tax to fund housing initiatives
The town of Vail issued the following press release on Thursday on a November 2 poll question about a half-cent sales tax to fund housing initiatives:
Vail voters will be asked to consider a half-cent sales tax to specifically fund housing initiatives in the Nov. 2 election, which will be coordinated with Eagle County. Vail City Council voted unanimously at its August 17 meeting to put the tax measure on the ballot.
Under the direction of City Council, Ballot # 1 exempts from collecting the increased sales tax rate on food for home consumption and contains a 30-year sunset provision that will allow for a future bond when the rates of interest will be favorable.
An increase in Vail’s sales tax from 4% to 4.5% would generate approximately $ 4.3 million per year and would be used exclusively for housing initiatives, home developments and housing programs and related activities in inside and outside the city.
The city is required to certify ballot questions to the Eagle County Clerk and Recorder Office by September 3 for the coordinated election which will be a mail-in ballot. Voters will also elect four members to Vail City Council.
The decision to put the tax measure on the ballot follows an independent opinion poll that showed favorable support for taxing residents and guests to help resolve the housing crisis. A separate voting question to increase the promotion and accommodation tax administered by the Vail Local Marketing District was considered in the poll and received less favorable support. Council members agreed to review the district’s marketing strategies throughout the year as a future tax initiative after the completion of a sustainable destination marketing plan in 2022.
The wording on the ballot for the half-cent sales tax measure will appear as follows:
Ballot paper n ° 1
SHOULD THE TAXES OF THE CITY OF VAIL BE INCREASED BY $ 4,300,000 DURING THE FIRST FISCAL YEAR AND WHAT ARE THE AMOUNTS THAT ARE INCREASED ANNUALLY THEN BY A 0.5% INCREASE IN THE CURRENT SALES TAX OF THE CITY (FROM 4.0% TO 4.5%) TO COME INTO FORCE ON JANUARY 1, 2022 AND TO END ON DECEMBER 31, 2052; EXCEPT THAT FOOD FOR DOMESTIC CONSUMPTION WILL BE EXEMPT FROM THIS TAX INCREASE; THE REVENUES FROM THIS IMPT INCREASE TO BE USED TO FINANCE HOUSING INITIATIVES, HOUSING DEVELOPMENTS AND PROGRAMS AND RELATED ACTIVITIES IN AND OUTSIDE THE CITY; AND THE REVENUES ARISING FROM SUCH INCREASE IN TAX AND ANY RELATED INVESTMENT INCOME WILL BE COLLECTED AND EXPENDED BY THE CITY FOR THE PURPOSES SET FORTH ABOVE AS A VECTOR APPROVED INCOME CHANGE, WITHOUT TAKING INTO ACCOUNT ANY EXPENDITURE , COLLECTION OF REVENUES OR OTHER LIMITATION CONTAINED IN ARTICLE, ARTICLE 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?
Yes No ___
For more information on voter registration, visit www.govotecolorado.com.