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Colorado Proposition 121 passes

This statewide ballot issue in the 2022 elections will lower income taxes in Colorado.

DENVER — Colorado voters decided on Tuesday to pass Proposition 121, a measure about lowering the state income tax. The "yes" vote was called by The Associated Press.

It’s the shortest question on the ballot. A YES vote supports dropping the state’s income tax to 4.4% from its current 4.55%. A NO vote supports keeping the state income tax at 4.55%.

With 80% of votes counted Wednesday morning, the only county in Colorado to vote against the measure was Boulder County, where the vote was 53.3% against and 46.7% in favor.

The latest results are below:

Results are called by The Associated Press. Click here for more on how AP calls races.

Click here for all election results from 9NEWS.

RELATED: Let's Just Vote: Prop 121 and what it means for income tax

Two years ago, voters statewide passed a measure dropping the state income tax to 4.55%. Before, it was 4.63%.

In years Coloradans get TABOR refunds, one of the ways the state can get money back to residents is by dropping the state income tax to 4.5%. That's happened the last two years and is projected to happen in the next three years, but that could change.

Tax breaks vary based on income level. Everyone pays less, but the more you earn, the more you're keeping. These tax brackets, up to $69,000, represent three-out-of-four Colorado taxpayers, so 75% of Coloradans would get a tax break of $63 or less.

Proponents of Proposition 121 say that permanently lowering the tax rate would eliminate the inefficiency of giving money to the government that will later be returned to taxpayers due to TABOR. Opponents say the measure would disproportionately benefit the wealthy and corporations.

More elections coverage from 9NEWS

This story includes previous reporting by Marshall Zelinger.

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