Rejecting Irresponsible Debt in Denver
A call to vote "No" on Denver's bonds highlights the concern over accumulating debt. The total for the current bonds (2A to 2E) is approximately $950 million.
Previous bonds, such as the Rise Denver bond in 2021 ($260 million) and the Elevate Denver Bond in 2017 ($937 million), contribute to a cumulative total exceeding $2 billion.
The total for all of these Denver bonds adds up to more than $2 billion.
The debt repayment for the current bonds is about $1.9 billion, paid through commercial and residential property taxes in Denver County. While the ballot claims no new tax will be imposed, it is noted that the mill levy could increase if property values decrease to cover the billions of dollars in debt.
As a resident of Denver County, where expenses have significantly risen this year, the concern over debt and potential tax increases is palpable.
Author's summary: Rejecting Denver's bonds due to irresponsible debt accumulation.
- Rise Denver bond (2021): $260 million
- Elevate Denver Bond (2017): $937 million
- Current bonds (2A to 2E): $950 million
- Total debt: over $2 billion
- Debt repayment: approximately $1.9 billion