SUBJECT: Consent Agenda
Title
A Resolution of the Council of the Town of Erie Establishing and Certifying the Property Taxes for the Town of Erie, Colorado, in Weld County and in Boulder County for 2024, to be Collected in 2025
Body
DEPARTMENT: Finance
PRESENTER: Cassie Bethune, Finance Manager
TIME ESTIMATE: 5 minutes
only required for non-consent items
STAFF RECOMMENDATION:
Recommendation
Approve the Resolution that certifies the mill levy for 2024, to be collected in 2025
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
Property taxes are collected by the county tax assessor in the year following the annual determination of assessed values. The Town of Erie's gross total taxable assessed valuation for properties within Weld County decreased by about 1% from $459,225,690 in 2024 to $455,014,930 in 2025. The decline reflects primarily changes in the valuation of oil and gas production. In contrast, the Town's gross total taxable assessed valuation for properties within Boulder County increased by 2% from $308,812,679 in 2024 to $315,061,782 in 2025. As a result, the Town's combined gross total taxable assessed valuation has increased 0.27% from $768,038,369 in 2024 to $770,076,712 in 2025.
The total TIF district increment in 2025 is $59,469,250, an increase of 6.44% from $55,869,755 in 2024. Net of this TIF increment, the net total taxable assessed valuation on which the Town's mill levy is calculated has decreased by 0.22%.
Pursuant to Colorado State Statutes and the Town Municipal Code, the 2024 Operating Mill Levy (collected in 2025) will be 7.288 mills, unchanged from the prior year levy.
Erie voters approved an additional mill levy for trails, natural areas and community character (TNACC) beginning in 2005 and approved an extension of this mill levy in 2022. The purpose of this mill levy is the construction, acquisition, and maintenance of trails and natural areas. The TNACC Levy will be certified to each county as 4.000 mills for 2024, ...
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