FREDERICK — The Frederick Board of Trustees approved a ballot measure at its Aug. 27 meeting for the Nov. 5 election regarding a TABOR modification that would allow the town to keep revenues that exceed the TABOR growth calculation.
The measure was prompted by an excess of $155,600 in 2012 that came from building permit fees (80 percent), oil and gas severance tax (10 percent), franchise fees from gas and cable companies (5 percent) and police grants, tobacco taxes, electrical design permits, specific ownership taxes and building rents (5 percent).
Under the current TABOR restrictions, this excess is given back to the source that it came from — for example, developers for the building permit fees and oil and gas companies for the severance tax.
Town officials have supported seeking residents’ approval to use this excess for future expenses that come out of the general fund, such as park improvements and maintenance, street maintenance and police department needs. The town is also asking for a modification of TABOR regarding similar future revenue collections.
“While portions of TABOR are important to keeping the public’s power over taxes, the growth calculation proves problematic for our ever-changing economy,” said Frederick Mayor Tony Carey. “The modifications we are suggesting will allow Frederick to keep excesses in good years to pay for the services our community has come to expect even when the economy is poor.”
The TABOR modification will not include any tax increases or debt issued by the town — anything of that nature will still require a vote of the people. Similar measures have been passed by 217 municipalities in Colorado. For more information on TABOR and the proposed ballot measure, visit Frederick’s website at www.frederickco.gov.