Colorado Springs Increases Sales Tax To Fund Road Repairs

The new year will bring a sales tax hike for residents of Colorado Springs, who voted in favor of the plan in November.

The Gazette reports that the sales-and-use tax rate will increase from 2.5 percent to 3.12 percent Friday, with the extra money used to fund road repairs.

It is expected to generate about $250 million for road work over five years.

Mayor John Suthers proposed the increase, the City Council put it on the ballot and voters approved it by a 2-to-1 margin.

Council President Merv Bennett says the road work will be more than just filling potholes and should help Colorado Springs' economy.