At a special meeting on July 29, Colorado Mountain College trustees unanimously approved endorsing a measure to repeal key aspects of the Gallagher Amendment. The measure was passed by the Colorado General Assembly and certified for the 2020 ballot on June 12. According to CMC Chief Operating Officer and Chief of Staff Dr. Matt Gianneschi, the economic impacts of COVID-19 stand to deeply exacerbate the conditions set forth by the Gallagher Amendment.
Colorado's Gallagher Amendment, established in 1982, fixes residential and non-residential property taxes at a specific ratio of 45% - 55% respectively. As Colorado's population grows, residential assessments are continually devalued to maintain this ratio, limiting funds for public institutions. Below is a detailed explanation of the Gallagher Amendment from CMC's Dr. Matt Gianneschi. For more on how the college is faring with the economic impacts of COVID-19, stay tuned to KDNK News.
