Colorado’s budget increased cumulatively less than pop+inf in state funds and all funds from 2014-23, meaning taxes have been kept below what the average taxpayer can afford.

  • The 2023 state funds budget is $5.2 billion less than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew slower than population growth plus inflation for the last ten years, the state spent and taxed $19.6 billion less than possible.
  • The 2023 all funds budget is $2.7 billion less than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew slower than population growth plus inflation over the past decade, the state spent and taxed $9.6 billion less than possible.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $28.98
  • FY 2025 Only State Funds Budget Limit ($ Billions): $30.69
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 5.89%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: ($880)
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: ($3,520)
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: ($3,328)
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: ($13,313)

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $41.35
  • FY 2025 All Funds Budget Limit ($ Billions): $43.78
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 5.89%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: $(467)
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: $(1,868)
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: $(1,632)
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: $(6,529)

Other Considerations