Voters deciding whether to let the state keep their constitutionally mandated refunds may have trouble putting a price tag on the November ballot measure – two official estimates released Tuesday are $700 million apart.
The disparity, Referendum C opponents said, is another reason for taxpayers to vote no.
“We have numbers almost three-quarters of a billion dollars apart indicating that this is a huge dice roll for taxpayers trying to make a decision,” said John Andrews, a Republican and former Colorado Senate president.
The question before voters is whether they should let Colorado keep revenue that the state constitution would otherwise require be refunded to them under the Taxpayer’s Bill of Rights.
A forecast done by legislative economists estimated the cost to taxpayers would be about $3.6 billion over five years.
Gov. Bill Owens’ budget office, meanwhile, released a revised version of an earlier forecast. His newest version estimates the impact of the measure at $2.9 billion.
For the average taxpayer, the disparities would translate to about $84 in forfeited refunds, or the difference between $491 and $407 over five years.
Lawmakers and Owens this spring brokered a budget deal that included the ballot measure to temporarily suspend TABOR refunds, saying the state needs the money to help it recover from more than $1 billion in program cuts made during the recent economic downturn.
Staff writer Chris Frates can be reached at 303-820-1633 or cfrates@denverpost.com.
