Loveland finance managers hope that history rules the day if city councilors follow their advice to put a measure on the Nov. 1 ballot to override the Taxpayer’s Bill of Rights, or TABOR.
In three citywide elections — in 1994, 1999 and 2002 — voters by large margins did just that, and $28 million in revenue that otherwise would not have been raised was spent on parks, streets and public safety projects.
Councilors at a study session tonight will view the ballot language, and hear the rationale for putting the question to voters.
The TABOR override ballot issue is a key piece of the city’s financial sustainability plan, cobbled together during the past six months to deal with a looming city deficit.
TABOR imposes a ceiling on what local governments collect and spend, linked to the region’s consumer price index, a measure of inflation.
More than 400 Loveland residents have already weighed in on the issue with their responses to an online survey seeking their opinions on budget-balancing tools.
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