FasTracks derailed?
It seems like the FasTracks program is derailed quite a bit. The situation is so bad that the Denver Metro Mayors want to double (!) the sales tax percentage the project is already receiving due to the declining income in Sales Tax due to the economy. Some mayors even think that will not be enough. Are we starting to throw good money after bad money here? Bringing the sales tax percentage for FasTracks to 0.8% in these days seems wrong to me. We are all feeling the pinch of the bad economy already. Such a large increase in sales tax will certainly not help to motivate people to spend more money. It is a wrong sign in these days to raise taxes – especially without providing a) a detailed spending plan and b) a definite end date.
I get the feeling that RTD is creating a big Black Hole with the FasTracks project. Is spending out of control? Did they not anticipate an economic downturn at all? I think nobody expected the economy to be as bad as it is, but FasTracks is planned to be completed by 2017. Did they not expect any kind of recession or slowing economy at all? That worries me and I think the initial cost will balloon dramatically and a 0.4% increase in sales is by far not the end.
Do you know where our sales is currently going? The default Colorado Sales Tax is currently at 2.9%. On top of that you pay local taxes like these:
The county sales tax rate is 1.0%. The Lincoln Station Local Improvement District near Interstate 25 on Park Meadows Drive has a sales tax of .5%. The northeast portion of Douglas County, Highlands Ranch, the Park Meadows Mall area, Lone Tree, Acres Green, and Lincoln Station LID are located in the Regional Transportation District, which has a sales and use tax of 1.0%. The Metropolitan Football Stadium District sales and use tax of .1% applies to all areas subject to RTD tax except for old Lone Tree, Acres Green, and Lincoln Station LID. The Scientific and Cultural Facilities District sales and use tax of .1% applies to all of Douglas County except in the towns of Castle Rock and Larkspur. Douglas County also has a 1% sales tax on property rented for thirty days or less, excluding motor vehicles. (Source: State of Colorado)
I am pretty sure the libraries and school districts also want their funding improved and we will see more requests for the November ballot creeping up rather sooner than later. I personally rather give more money to the schools and libraries as I see that money better used. I do not oppose FasTracks, but I oppose writing a blank check to cover a big, black hole.
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