Colorado State Archives
Executive Orders from the Administration of Governor Bill Owens 1999-2005
Friday, September 29, 2000
Amy Jewett Sampson
GOVERNOR OWENS ANNOUNCES TABOR SALES TAX REFUND TO BE RECEIVED IN 2001
DENVER – Governor Bill Owens announced today that the average TABOR sales tax refunds to be received in 2001 will be $267 per taxpayer and $534 per married couple. The refunds come on top of tax cuts signed by the Governor during the first two years of his administration totaling nearly one billion dollars annually.
"The fact that we have been able to initiate the largest permanent income tax cut in Colorado history and still provide sizable refunds next year shows how strong our economy is. The surplus also will allow us to seek additional tax cuts during the next session of the State Legislature," Owens said.
During the past two years, tax relief totaling almost one billion dollars has been provided to Colorado taxpayers. This includes permanent tax relief of $550 million which will benefit taxpayers each year and temporary tax relief of $372 million.
Temporary tax relief measures include the earned income tax credit, child care tax credit for low- and middle-income families, lower vehicle registration fees, a tax credit for health care costs not paid by employers for low-income families and a credit for personal property taxes paid by businesses.
With the tax relief packages passed in the last two years, the average individual Coloradan now saves $498 in taxes each year while the average couple saves $996 per year. Since the beginning of the Owens’ administration, the state’s income tax has been lowered from 5.0 percent to 4.63 percent.
The TABOR surplus for fiscal year 2000 totals $941.1 million.
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