Rejecting Irresponsible Debt in Denver
A call to vote "No" on Denver's bonds highlights the significant debt the city is undertaking. The total for all of these Denver bonds adds up to more than $2 billion.
Previous bonds, such as the Rise Denver bond in 2021 ($260 million) and the Elevate Denver Bond in 2017 ($937 million), have already contributed to the city's debt. This year's 2A to 2E bonds total $950 million, bringing the overall total to over $2 billion.
The debt repayment for the current bonds is approximately $1.9 billion. Although the ballot states "without imposing any new tax," this is not entirely accurate. The bonds are paid through commercial and residential property taxes in Denver County, which could lead to an increase in the mill levy if property values decrease.
The reason is that all these bonds are paid through commercial and residential property taxes in Denver County.
- Rise Denver bond (2021): $260 million
- Elevate Denver Bond (2017): $937 million
- 2A to 2E bonds (this year): $950 million
- Total debt: over $2 billion
- Debt repayment: approximately $1.9 billion
As a resident of Denver County, the significant increase in expenses this year is a concern, making it essential to consider the implications of taking on more debt.
Author's summary: Vote "No" on Denver's bonds to avoid irresponsible debt.
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