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TABOR vote creates separate budget
Lakewood voters approved lifting the Taxpayer’s Bill of Rights (TABOR) limits on the city’s budget through 2025, and the additional funds made available by this vote will be tracked in a separate budget.
The decision on TABOR came on the November ballot when Lakewood voters were asked whether the city could keep TABOR funds to spend on additional city services such as open space purchases, transportation improvements and the police. TABOR is the state law that allows residents to decide whether to limit city revenues to a specific level each year or to lift the TABOR limits to allow those funds already collected by the city to be spent on services for residents. More than 60 percent of Lakewood voters approved lifting the TABOR limits on the city’s budget.
With the voters’ approval, Lakewood can use $12.5 million that’s currently in excess of the TABOR limits in the following ways:
- $8.5 million for open space and parkland purchases.
- $2 million for police protective gear, safety-related and other needed items.
- $2 million for infrastructure and transportation improvements.
Work is already underway to purchase police safety equipment and to install transportation improvements, but discussions will continue on the parkland acquisitions.
Review the list of police and transportation items here.
After this year and until Dec. 31, 2025, any money collected in excess of the TABOR limits will be spent in the following ways:
- One-third for open space and parkland purchases, improvements or maintenance.
- One-third on police safety equipment, other assets or police agents.
- One-third on transportation improvements to address high-priority safety concerns or for new and upgraded sidewalks, paths, streetlights or path lighting where needed for safety.
More information and TABOR project updates, visit the "Projects paid for with TABOR funds" on the city's budget page at Lakewood.org.