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The Aspen Council Votes to Double Resident Refunds from the Food Tax

(PHOTO: MarketWatch)

Councilman Sam Rose Advocates for Greater Food Tax Refunds for the Community’s Benefits

Aspen City Council Is Thinking About Changing the Food Tax Refund to Reflect the Rate of Inflation and Sales Tax

Members of the Aspen City Council have indicated that they are open to raising the yearly food tax return for locals to $132 by 2025, a substantial increase. Councilman Sam Rose brought up the immediate community benefit of such refunds during a council work session, which led to the idea. First established in 1970 to mitigate the effects of Aspen’s first sales tax, the rebate is currently valued at $55. By 2024, the sales tax rate in the city will have increased to 2.4%, and the planned hike seeks to bring the refund into line with inflation and this new reality.

Higher tax filing costs could take a bite out of your refund
The Aspen Council Votes to Double Resident Refunds from the Food Tax (PHOTO: NBC News)

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Council Discusses Timing and Arrangements for Increased Food Tax Refund

According to Aspen Daily News, Councilman Rose argued that the entire increase should be reflected immediately, but other supporters preferred to include it in the 2025 budget. Worries were expressed regarding the surge in demand and possible disputes with applicants who were turned down since City employees already had difficulty elucidating the requirements. However, given that more than 1,000 people would benefit each year and that over $200,000 will be distributed overall in 2023, the talks show a growing understanding of the necessity to make sure the refund keeps up with changes in the economy and successfully supports the community.

READ ALSO: Lawmakers Propose Innovative Tax Credits For Childcare And Housing

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