By Alexander Edwards | Denver Gazette
Denver voters have rejected Mayor Mike Johnston’s proposal to increase the city’s sales tax rate by 0.5 points in order to pay for housing projects citywide.
The tax hike proposal divided the Denver City Council, where it was delayed, amended and ultimately sent to the Denver ballot in August.
Johnston, who campaigned for the measure at several events ahead of the November election, said the increase would raise about $100 million annually. Using existing funds, city staffers earlier said Denver can expect to build or preserve about 20,000 units. Revenue from the sales tax increase would double that over 10 years.