“The Basalt Town Council, on Tuesday night, showed its support for investing a significant portion of its tobacco tax dollars into Basalt Elementary School and the Aspen Hope Center to further bolster the community’s mental health services. In 2018, Basalt voters overwhelmingly approved a tobacco tax question that went onto levy an additional $2 per pack of cigarettes purchased as well as a 40% tax on all other tobacco products sold in town. However, in accordance with the Colorado Taxpayer Bill of Rights, the town had to briefly stop collecting the revenue generated from the tobacco tax after underestimating how much it would bring in during its first year of collection. Subsequently, in 2019, the town only collected $29,162 in tobacco tax revenue. No longer bound by TABOR’s restrictions, the town has projected that by the end of 2020 it will have collected $480,000 in tobacco tax.”
ARTICLE LINK:
Basalt’s tobacco tax dollars going toward local mental health services
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