Politics & Government

Colorado Votes To Dedicate $300 Million Annually To Housing

The measure was the only statewide affordable housing initiative in the country to make the 2022 election ballot.

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"It will make Colorado the first state in the country to be on the path to solve the affordable housing crisis," said Mike Johnston, president and CEO of Gary Community Ventures, an organization focused on housing that was behind the midterm measure.
"It will make Colorado the first state in the country to be on the path to solve the affordable housing crisis," said Mike Johnston, president and CEO of Gary Community Ventures, an organization focused on housing that was behind the midterm measure. (CBS)

By CBS Denver Staff:

Facing sky-high housing prices, Colorado residents have voted to direct an estimated $300 million a year to affordable housing projects by rewriting the state's tax law.

As housing crises bubble up nationwide, the measure was the only statewide affordable housing initiative in the country to make the 2022 election ballot, according to the National Conference of State Legislatures. The measure, Proposition 123, narrowly passed with about 52% of state voters approving it, according to unofficial results Monday, with some votes yet to be counted.

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