DENVER (KDVR) — Denver voters will notice a proposed sales tax on the upcoming November ballot.
The tax would increase Denver’s sales tax rate by a quarter of a percent to fund renewable energy goals over the next couple of decades.
The proposed tax increase was recommended by the Denver Climate Action Task Force. The Denver City Council passed the measure earlier this week to add it to the November ballot.
If voters approve the measure, it would increase the city’s sales tax rate an extra 2.5 cents on every 10 dollar purchase.
Necessities such as food, water, fuel, and medical supplies would be exempt.
Money from the tax would go toward creating jobs in renewable and clean energy technology, as well as the management of natural resources.
Funds would also go toward renewable energy technologies, such as solar and battery storage and clean transportation alternatives. It would also focus on neighborhood-based environmental and climate justice programs, increasing efficiency in homes and buildings, focusing on communities of color and lower income.
If approved, the Denver Climate Action Task Force, who recommended the tax increase, estimates the increased sales tax could bring in 36 million dollars within the first year.
Read the full report here.