John Hickenlooper

Colorado governor wants tax boost on pot sales, some homes

Faced with complex rules on state spending, the governor of Colorado is proposing higher taxes on marijuana sales and on some homes owned by seniors to fully fund public schools.

Democratic Gov. John Hickenlooper's administration says the moves are needed to close an anticipated $106 million deficit in K-12 funding in the fiscal year that begins July 1.

In a letter sent late Tuesday to lawmakers, Henry Sobanet, director of the Office of State Planning and Budgeting, said raising the recreational pot special sales tax from 10 percent to 12 percent and reducing a senior homestead exemption on property taxes from $200,000 to $100,000 would close the schools deficit.