We are a week away from Election Day, and Denver voters will decide whether to approve the largest dedicated sales tax in city history. One of two measures that would hike the sales tax aims to increase affordable housing in the Mile High City, which has become one of the most expensive real estate markets in the country.
Measure 2R aims to raise the city’s sales tax by 0.5% to generate $100 million and Mayor Mike Johnston has proposed it to create more affordable housing in Denver. The proposal looks to add an extra half-percent tax to some sales, for example, an equivalent 5 cents on a $10 purchase.
As for Ballot Measure 2Q , a city sales tax of .34% would be added on $10 purchases with the tax revenue going towards Denver Health . It would help offset the hospital’s uncompensated care.
If both measures pass, that would put the city sales tax over 9%.
Some residents are willing to accept a higher sales tax for more affordable housing and health care, while others fear it will leave them struggling financially.