Business and property owners along East Colfax Avenue have voted to approve a 40 percent Business Improvement District tax rate hike aimed at carrying out the district's improvement plan for the Denver thoroughfare.

In partial returns late Tuesday, the proposal was leading by 34-17, with several votes yet to be counted.

The Colfax BID covers an area between East 16th and East 14th avenues and from Grant Street to Josephine Street.

The tax hike initiative was sent to more than 200 voters in the district separately from the 2017 citywide ballot for the election that ended Tuesday.

It authorizes the Colfax BID to increase the mill levy on commercial properties within the district from 7.846 mills to 11 mills, an increase of 3.154 mills.

Read more at the Denver Business Journal: