Fort Lewis College Board of Trustees Opposing Ballot Initiatives 50 and 108
August 16, 2024
WHEREAS, Fort Lewis College is a Colorado public institution of higher education committed to serving students in Southwest Colorado, the Western Slope, and throughout the State; and
WHEREAS, Fort Lewis College’s elected Board of Trustees manages the college with integrity and is committed to providing an affordable education to Colorado residents as evidenced by its tuition and fees being the lowest in the State among four-year institutions: and
WHEREAS, initiatives 50 & 108 are short-sighted responses to a once-in-a-generation increase in property valuations caused by the historic national economic events and the laws of supply and demand, not government; and
WHEREAS, according to estimates from the Office of State Planning and Budgeting, initiatives 50 & 108 represent an immediate and permanent reduction of billions of dollars of community-based services carefully adopted by rural communities through local democratic processes; and
WHEREAS, Ballot Initiative 50 proposes to institute a constitutional 4 percent annual cap on total statewide property tax revenues, mandating a statewide vote for any local district wishing to keep revenues above that cap; and
WHEREAS, analysis shows that Initiative 50 would result in a decrease of local property tax revenue by $115 million in the first year, escalating to $1 billion by the third year, causing significant financial strain on local governments, school districts, and special districts, including cuts to essential programs such as higher education, K-12 education, mental and behavioral health services, parks and road maintenance, fire safety, and water infrastructure; and
WHEREAS, the imposition of a 4 percent cap does not account for inflation, potentially resulting in negative revenue growth in years of higher inflation, and hindering the ability of governments to maintain existing services or respond to public demands for new or increased services; and
WHEREAS, Ballot Initiative 108 proposes to cut residential property assessment rates from 5.7 percent and non-residential property assessment rates from 29 percent to 24 percent, mandating that the General Fund backfill all local districts, leading to a potential $3 billion reduction in local property tax revenue in the first year; and
WHEREAS, the requirement for the state General Fund to backfill $3 billion to local districts would necessitate severe budget cuts equivalent to those made during the height of the Great Recession, disproportionately affecting appropriations to higher education and other critical state departments; and
WHEREAS, initiatives 50 & 108 would inflict harm on small businesses throughout rural Colorado by reducing state and local investments in workforce services in mass transit, health care, affordable housing, and higher education; and
WHEREAS, the combined impact of both Ballot Initiatives 50 and 108 would have devastating effects on Colorado's economy, significantly impairing the ability of the state legislature to maintain current funding levels for higher education, K-12 education and other vital services; and
WHEREAS, The Colorado legislature has already addressed property tax issues by passing bipartisan and responsible relief in the form of SB24-233 during the 2024 session, which balanced multiple interests to provide responsible rate reductions, ensure predictability for homeowners and businesses, protect higher education and K-12 funding, and avoid deep cuts to local government services; and
NOW, THEREFORE, BE IT RESOLVED, that the Board of Trustees of Fort Lewis College hereby formally opposes Ballot Initiatives 50 and 108, recognizing the severe negative impacts these initiatives would have on the financial stability of local and state governments, educational institutions, and essential public services throughout Colorado.
BE IT FURTHER RESOLVED, that the Fort Lewis College Board of Trustees urges voters to reject Initiatives 50 & 108 for their being economically unsound and profoundly harmful to Colorado’s state and local services; and
BE IT FURTHER RESOLVED, that the Board of Trustees opposes these initiatives and to advocate for sustainable and equitable fiscal policies that support the long-term well-being of Colorado's public institutions and communities; and
BE IT FURTHER RESOLVED, that a copy of this resolution be forwarded to the appropriate governmental representatives, educational boards, and community organizations to convey the Fort Lewis College Board of Trustees’ position on these initiatives.
Adopted on the 16th of August, 2024 by the Fort Lewis College Board of Trustees.
ADOPTED BY: Mary Rubadeau, Chairman Board of Trustees for Fort Lewis College
ATTESTED BY: Meredith Mapel, Secretary Board of Trustees for Fort Lewis College