There’s no double-edged sword quite like taxes.
Longmont City Council will decide Tuesday night whether voters will see a question on their November ballot asking them to raising property and sales taxes to fund 86 jobs in public safety, including police and fire.
After the Longmont Police Department sounded the alarm to city council earlier this year on understaffing, the seven-member team began to mull options for funding the city agency. On August 11, city council approved an ordinance on first reading asking voters to increase city sales and use tax by 0.33% and add a 2.44 mill levy. Tomorrow, the ordinance returns for its second and final reading. Here’s a snapshot of the tax impacts…
Property taxes would rise about $75 on a $500,000 home.
Sales tax rates would rise to 9.195%, from 8.865%.
The figure above includes several other taxes: 2.9% for the State of Colorado, 1% to RTD, 0.10% to the Cultural District, and 1.335% to Boulder County.
Not a fan…
Councilmember Diane Crist was the lone vote opposing the proposal. Her primary concern centers around the potential of losing business from people in surrounding towns, like Firestone and Frederick, if they continue to raise sales taxes. For long, those communities provided ample supply of foot traffic to Longmont as the nearest city with retail stores like Target and Kohl’s. But…
Firestone and Frederick are seeing robust development. Firestone just opened a Target while Frederick added a King Soopers.
Looking ahead:
If the tax is approved by voters, estimates show it would supply roughly $20.86 million by 2036. If city council votes to approve it, it’ll officially be on its way to the November 3 ballot.
Also on the agenda…
In order to accommodate an expected surge in demand for lodging during the Sundance Film Festival, city council is considering whether to loosen restrictions on who can rent out their homes during special events. The ordinance faces its second reading tomorrow.
Big picture:
The proposal creates a new short-term rental license designed to allow Longmont residents, who are normally ineligible to rent out their properties, to take advantage of major regional events. These licenses can be used for…
Primary residences, apartments (with property owner approval), accessory dwelling units, and more.
But, any rule change will be a test drive. The ordinance is a pilot program and expires in May 2027.
Obtaining the license costs a $100 fee.
Licenses can only be used within the window of a designated event