Financial Education for Colorado Educators (and those they love). Absolutely Free.
Colorado voters narrowly approved Amendment 87 (pdf) this week. This means that effective with the 2027 tax year, Colorado will move from a flat 4.4% state income tax to a progressive income tax. Here are the new Colorado progressive income tax rates and brackets. As a result of these changes, it's estimated to raise Colorado … Continue reading Colorado’s New Progressive Income Tax: Some Teacher Examples
Initiative 195 has made the Colorado ballot for November. If it passes, this would change Colorado's state income tax from its current flat 4.4% to a graduated income tax (similar to how federal taxes work). Proposed Colorado State Income Tax Brackets As a result of these changes, it's estimated to raise Colorado revenues by about … Continue reading Colorado Initiative 195: State Graduated Income Tax
Someone reminded me the other day about Colorado Promise and I realized I'd never written about it. Most Coloradans are (hopefully) aware of the College Opportunity Fund, which pays a stipend for Colorado residents to attend in-state public universities (and some in-state private universities). They are also (hopefully) aware of Colorado's College Invest 529 plan, … Continue reading Colorado Promise Tuition Assistance
Someone reminded me today about Colorado's Senior Property Tax Exemption. While Colorado property taxes are actually relatively low, that doesn't mean they are $0, so this is worth checking out. We are not 65 so haven't been able to use it yet, but I realized that I had never written about it for those who … Continue reading Colorado’s Senior Property Tax Exemption
Last year I suggested PERA-related legislation that eventually turned into HB26-1026 and became law. I am now reaching out to my Colorado representative and the other two co-sponsors of that bill with a new PERA-related proposal. Here is the email I sent to those legislators. If you think this is a good idea, please consider … Continue reading New Proposal for Colorado Legislation: PERA 457b Auto-Enroll and Auto-Escalate
I've written previously about Colorado HB26-1026 and am happy to share that the legislature passed it and the Governor has now signed it. This bill has three provisions. New Option for Purchasing PERA Service Credit: PERA members have previously been able purchase up to 5 years of nonqualified service credit, but they had to have … Continue reading Great News! Colorado HB26-1026: Expanding Plan Options for PERA is Signed Into Law