The monthly report from the State Department of Revenue on sales tax revenue in the seven-county metro area continues to show very strong performance. The region’s sales tax revenue is up 8.5 percent over last year as of the end of September. And, the month of September was up 11.6 percent over September a year ago – hence, showing no end of year slowdown. Some political implications:
- The recent strong performance of President Obama in the metro area partially reflects Colorado’s recovery. It reinforced his position that the economy was improving, justifying four more years.
- The willingness of local voters to support a host of school and municipal revenue increases through bonds and TABOR overrides was aided by general sense of economic recovery.
- The failure of a bond initiative in Aurora suggest that voters are still picking and choosing where to say yes. A general rush to the ballot will likely produce more stringent approval criteria by voters.
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