2017 Ballot Issue 2B - Storage Tax
Ballot Issue 2B – Storage Tax
Read the full text of Resolution 2017-43 approved by City Council
A 3.5% excise tax is being proposed on the rental of indoor or outdoor storage space, or the sale of storage services, as an equitable means to fund municipal activities related to cultural arts, historical preservation, and local history museums, including the Miners Museum, that otherwise would not be supported given the financial burden on the City’s general fund. Similar taxes are currently in place in Louisville (3.5%) and Westminster (3.85%).
The passage of Ballot Issue 2B will only have an impact on those who rent storage space at local storage facilities.
Official Ballot Wording for Ballot Issue 2B – Storage Tax:
SHALL THE CITY OF LAFAYETTE’S TAXES BE INCREASED BY $180,000 ANNUALLY IN THE FIRST FULL FISCAL YEAR (2018) AND BY WHATEVER AMOUNTS ARE RAISED ANNUALLY THEREAFTER, BY THE IMPOSITION OF AN EXCISE TAX ON THE RENTAL OF INDOOR OR OUTDOOR STORAGE SPACE, OR THE SALE OF STORAGE SERVICES, WITH SUCH TAX BEING IMPOSED AT THE RATE OF 3.5% OF THE PRICE PAID FOR STORAGE OR STORAGE SERVICES, AND THE PROCEEDS USED TO FUND PROGRAMS OF THE CITY THAT PROMOTE AND ADVANCE CULTURAL ARTS, HISTORIC PRESERVATION AND LOCAL HISTORY MUSEUMS, INCLUDING THE MINERS MUSEUM; AND WITH THE REVENUE FROM SUCH TAX AND ANY INVESTMENT EARNINGS THEREON TO CONSTITUTE A VOTER-APPROVED REVENUE AND SPENDING CHANGE UNDER, TO BE COLLECTED AND SPENT EACH YEAR WITHOUT LIMITATION BY THE REVENUE AND SPENDING LIMITS OF, AND WITHOUT LIMITING THE COLLECTION OR SPENDING OF OTHER REVENUES OR FUNDS BY THE CITY UNDER, ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?