Here is a recap of the voter results earlier this month on several ballot initiatives that are relevant to the Telluride Real Estate Market (as compiled by the Telluride Association of Realtors):
Affordable Housing Proposals see Mixed Results on Election Day.
Three issues specifically facing voters in Telluride on Election Day saw mixed results. The hotly debated proposals for a property tax increase for Affordable Housing seem to have passed by the narrowest of margins. Measure 2A, which levies a 2 mil increase on Telluride residential properties seems to have passed by about 32 votes. 2C, which requires voter approval to bond the money collected passed by a slightly larger margin. One affordable housing measure that did not pass was measure 2B, which proposed a sales tax increase and would have likely raised more money for affordable housing than the property tax measure.
The Telluride Association of REALTORS® will continue to monitor new developments in the affordable housing discussion and will always be an advocate for housing for all.
Property Tax Proposals Pass in Telluride, other Local Areas
In addition to the ballot questions regarding affordable housing, a number of different property tax proposals that raised money for specific needs/purposes all received approval from area voters.
Voters said yes to property tax hikes requested on this election’s ballots that will help support the fire, school and hospital districts. Each of those measures passed with convincing margins, ensuring that voter approved funding will be in place to compensate for funding shortfalls brought about by declining property tax revenues.
The Telluride Fire District won a 2 mil increase and a Gallagher Amendment adjustment that makes up for revenue gaps in lean tax years. The proposal won by a 70-30 margin.
The Telluride Hospital District won a similar increase and adjustment by a slightly larger margin. Officials say the revenue will assist with better emergency facilities and better overall service to the public.
Finally, the Telluride School District won their question by a slightly smaller 64-36 margin. The $1.2 million in annual revenue the district will receive as a result of the approval of Ballot Issue 4A will be used for attracting and retaining high quality teachers, general operations, programming, and maintaining class sizes.