On Feb. 22 City Council kicked off the process to determine the future of climate funding in Boulder
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On Feb. 22 City Council kicked off the process to determine the future of climate funding in Boulder
Currently, there are two taxes that provide the bulk of funding for the community's climate efforts: the Climate Action Plan (CAP) and Utility Occupation taxes. The CAP tax is set to expire early next year. Without action, climate funding will decrease by about $1.8 million per year.
In their discussion, City Council voiced support for simplifying climate funding.
Climate Tax Proposal
- Combine the CAP and Utility Occupation Taxes to generate about $5 million per year.
- Modify existing tax rates so that the tax burden falls proportionally on commercial industrial customers, reducing costs to residential customers.
- Better align tax burden with emissions generated across customer classes.
Proposed Changes to Annual Costs (Current → Proposed)
- Residential: $42.95 → $38.20
- Commercial: $241.29 → $374.90
- Industrial $704.83 → $1,389.89
Some Things the Climate Tax Would Fund
- Direct cash assistance to homeowners, landlords and businesses to fund energy efficiency upgrades.
- Development of local solar energy projects.
- Expansion of city transportation electrification projects and city-owned electric vehicle charging stations.
- Grants for local innovation.
- Support for local workforce.
- Policy and regulatory reform.
- Partnership and international collaboration.
Learn more:
- Visit the Climate Funding webpage.
- Watch the council discussion.
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