CMC tax proposal seeks protection from Gallagher impacts | SteamboatToday.com
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CMC tax proposal seeks protection from Gallagher impacts

STEAMBOAT SPRINGS — The Colorado Mountain College Board of Trustees passed a resolution at its Aug. 29 meeting in Leadville to put a ballot issue before the voters of the district in November.

If passed, trustees will be authorized to maintain college services in the future by adjusting the CMC mill levy if needed in response to statewide revenue reductions caused by the Gallagher Amendment to the state constitution. Trustees would have the ability to adjust the mill levy only when there are future Gallagher Amendment reductions, and the mill levy increase would be limited in amount to any such reductions.

In 2017, CMC’s revenues were reduced by $2.8 million, compared to what was projected before the Gallagher effect was triggered. The college managed the unexpected $2.8 million drop in projected revenue by making changes to new employee benefits, implementing other operating reductions and increasing tuition.

If assessment rate drops again in 2019, which it will do absent any legislative or statewide remedies, CMC expects to experience an additional revenue reduction of $3.8 million. This amount is equal to the entire operating budget of one of the college’s campuses.


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