03/18/2010 05:12 am ET Updated May 25, 2011

Colorado Tax Restrictions Cost Public Schools $3 Billion Annually

Colorado schools, which are facing a 6 percent funding cut, would have had an additional $3 billion annually if constitutional limits on residential property taxes had not been enacted by voters in past decades, lawmakers were told Friday.

That revelation came during a meeting of the Joint Budget Committee, which was hearing a presentation from Department of Education officials. The 2010-11 budget Gov. Bill Ritter is proposing calls for a $260 million reduction in funding for public schools, which represents just over a 6 percent cut in total funding from the budget year that ends in June.

Read more on The Denver Post