By Samantha Jarpe | Fox 31 News
Denver Mayor Mike Johnston unveiled a proposal Monday to raise $100 million a year for affordable housing projects by raising the sales tax in Denver by 0.5%.
The proposed 0.5% tax will account for about 5 cents on a $10 purchase, according to a release sent by the mayor’s office.
There would be exceptions for many of the everyday essentials people buy including food, fuel, medical supplies and personal hygiene products, meaning the new tax would not apply to those purchases.
Because it involves raising taxes, the proposal will need to be approved by the City Council and then by voters in November before being implemented.