The Colorado Tax Limits Act, also known as Initiative 12, was on the November 7, 1972 ballot in Colorado as an initiated constitutional amendment, where it was defeated. The measure would have limited property taxes to fund schools and sales and service taxes.
| Colorado Initiative 12 (1972)|
|Yes|| 167,882|| 21.09%|
Election results via: The Colorado Legislative Council
Text of measure
The language appeared on the ballot as:
|| An Act to Amend the State Constitution by the addition of a new Article, concerning replacement of property taxes for the financing of schools and limitations on other property taxes, provides for creation of a State Tax Equalization Commission for uniform assessment of all real property; requires imposition by law effective January 1, 1974, of certain taxes to replace lost property tax revenue sources, namely: severance taxes; progressively graduated corporate and personal income taxes, and taxes on sales and services; provides sales tax credits and limits sales and service taxes to 3% by the State and 3% by any local governmental subdivision.