At their meeting tonight, Basalt’s Town Council is expected to stop collecting taxes on cigarettes and other tobacco and nicotine products. The tax was raising too much money.
Basalt voters approved a tax in April of last year that added $2 to the price of a pack of cigarettes and 40 percent to other tobacco products.
The town council anticipated it would raise a little less than $30,000 over 2019. Instead, it was on track to raise over $200,000.
The town government is worried about possibly violating the Tax Payers Bill Of Rights (TABOR), which limits revenue growth by governments.