Colorado

Aug 25, 2010 4:12 PM by Bea Karnes, News First 5

Aspen schools seek tax increase

The Aspen School District is asking voters to approve a property tax increase of $1.2 million a year to help close a budget shortfall.

The school board voted unanimously on Tuesday to put the issue on the ballot this fall. School officials say the increase would amount to a $14 a year increase for a home valued at $500,000 and $56 on a residence valued at $2 million.

Officials say the tax increase would help buffer the school district against potential cuts in state funding and against three statewide measures on the ballot in November that would reduce local government's fees and tax revenue and restrict their ability to borrow.

The increase would be permanent.

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