SUBJECT: A Resolution Establishing And Certifying The Property Taxes For The Town Of Erie, Colorado, In Weld And Boulder Counties For 2018, To Be Collected in 2019.
DEPARTMENT: Finance
PRESENTER: Steve Felten
FISCAL INFORMATION:
Cost as Recommended: n/a
Balance Available: n/a
Budget Line Item Number: n/a
New Appropriation Required: No
STAFF RECOMMENDATION: Approval of the resolution that certifies the mill levy for 2018, to be collected in 2019.
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Town of Erie's assessed valuation has increased 18.7% from $330,330,391 in 2017 to $391,992,578 in 2018. Property taxes are collected in the year following the annual determination of assessed values by the county tax assessor.
Pursuant to Colorado State Statues and the Town Municipal Code, the 2018 Operating Mill Levy (collected in 2019) will be 7.288 mills, unchanged from the prior year levy.
Erie voters approved an additional mill levy for trails and natural areas beginning in 2005. The purpose of this mill levy is the construction, acquisition and maintenance of trails and natural areas. The Trails and Natural Areas Levy shall be certified to each county as 4.000 mills for 2018.
In addition, Erie voters approved an additional mill levy in 2006 for debt service on the general obligation bonds issued for construction of the Erie Community Center. This mill levy shall be certified to each county as 3.252 mills for 2018 (a decrease of 0.608 mills compared to the prior year and a decrease of 4.068 mills since the original levy).
In 2014, Erie voters approved an additional mill levy for debt service on the general obligation bonds issued to fund construction of a new public safety facility. This mill levy shall be certified to each county as 0.550 mills for 2018 (a decrease of 0.102 mills compared to the prior year and a decrease of 0.328 mills since the original levy).
The total mill levy for General Obligation Bond Debt Service for the community center b...
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