Monument’s November ballot includes Issue 2B, a proposal that would increase the town’s use tax on construction and building materials from 2.0% to 3.5%. The additional revenue—estimated at $2,272,500 per year beginning Jan. 1, 2027—would be earmarked for capital projects such as streets, roads, bridges, sidewalks, and storm‑water improvements.
How the Tax Works
The use tax would be collected only when a building permit or right‑of‑way permit is requested and when the municipal sales tax of 3.5% was not already paid at the point of purchase. The town would retain and spend the revenue, along with any investment earnings, under Article X, Section 20 of the Colorado Constitution (TABOR) or any other applicable law.
Fiscal Context
Monument’s recent spending shows a steady upward trend: $14.76 million in FY 2022, $17.18 million in FY 2023, $19.16 million in FY 2024, $24.15 million in FY 2025, and an estimated $24.16 million for FY 2026. That represents a 64% overall increase in fiscal‑year spending over the past four years, with a dollar increase of $9,399,764.
Without the proposed tax increase, the town projects FY 2027 spending of $33,229,193. The additional $2.27 million would raise that total to roughly $35.5 million, providing a dedicated funding stream for the infrastructure items listed in the measure.
Public Input
The town received no written comments for or against Issue 2B by the constitutional deadline, indicating a lack of organized opposition or support in the public record.
What Voters Need to Know
- Issue 2B asks whether to raise the use tax on construction‑related purchases from 2.0% to 3.5%.
- The increase would generate about $2.27 million annually, beginning in 2027.
- All revenue would be spent on capital projects: streets, roads, bridges, sidewalks, and storm‑water improvements.
- The tax would be collected only when a building or right‑of‑way permit is requested and the municipal sales tax was not already paid.
- No written comments were filed for or against the measure.
Monument voters will see the measure on the ballot in the upcoming election. The outcome will determine whether the town can fund its planned infrastructure upgrades through the proposed use‑tax increase.
Original reporting: KRDO (Colorado Springs metro) — read the source article.
