Loveland voters will soon have the opportunity to decide whether to eliminate the city's 3.0% sales tax on food for home consumption. The measure, known as Question 300, will be on the ballot and has sparked a debate between supporters and opponents. Supporters argue that the tax is regressive and disproportionately affects low-income residents. They estimate that eliminating the tax could save a family of four $450 to $500 per year. On the other hand, opponents claim that removing the tax will result in severe cuts to city programs and services. They argue that the potential financial consequences for the city's general fund are being underestimated and that the cuts will disproportionately impact non-essential programs and activities. The city's finance office estimates that removing the sales tax on food will cost the general fund around $10.5 million per year. Loveland's sales tax rate is already one of the lowest in northern Colorado, and eliminating the tax on food would lower it to an effective rate of 2.52%.
The outcome of Question 300 will be determined by the votes of Loveland residents, and the decision will have significant implications for the city's finances and the affordability of food for its residents.
In related news, Loveland food assistance groups have seen an increase in the need for food assistance and other forms of help over the past year. The Food Bank for Larimer County and House of Neighborly Service in Loveland have experienced a surge in demand. The Food Bank saw a 32% increase in the number of clients served through its food share market, and it also serves 120 other nonprofits in Larimer County. The organization is working to maintain funding to adequately serve those in need and is collaborating with similar organizations across the state. The House of Neighborly Service provides a community place for newcomers to seek help and offers resources such as food, clothes, and utility assistance. Both organizations are holding food drives to ensure there is enough food for the holiday season. The Food Bank held the Tour de Turkey event, which encouraged residents to donate frozen turkeys, hams, and chickens. Donations, both financial and in food, are greatly appreciated by both organizations.
The outcome of the ballot measure and the increased need for food assistance highlight the importance of addressing food affordability and accessibility in Loveland.