i_taxtask_2017a_2017-07-11t10:06:11z10 Hearing Summary

Date: 07/11/2017

Location: RM 271

03:25 PM -- Public Comment



03:25 PM -- Jeff Hansen, Finance Director for the City of Golden, provided testimony to the task force. Mr. Hansen spoke about the impact of adopting the state’s tax base on Golden, and other municipalities, revenue based on previous task force discussion. For example, Golden taxes food for home consumption. Accordingly, if Golden were to adopt the state base, it would lose between 15 and 20 percent of revenue that it receives from the tax on food sales. In order to achieve revenue neutrality and offset this loss, Golden would have to increase its tax rate, which would have to be approved by the voters in a TABOR election, which would be unlikely to pass. Mr. Hansen also spoke about his efforts to reach out to other municipalities working to adopt the standard definitions and provide assistance based on Golden’s experience.