SUBJECT:
Title
A Resolution of the Town Council of the Town of Erie Establishing and Certifying the Property Taxes for the Town of Erie, Colorado in Weld and Boulder Counties for 2025, to be collected in 2026.
Department
DEPARTMENT: Finance
Presenter
PRESENTER(S): Sara Hancock, Director of Finance
Cassie Bethune, Budget & Fiscal Manager
end
Time
TIME ESTIMATE: 15 minutes
end
For time estimate: please put 0 for Consent items.
Fiscal
FISCAL SUMMARY:
N/A
Policy
POLICY ISSUES:
The mill levy certification is required to be reviewed and approved by Council. This certification is needed to formally authorize the collection of property taxes required to fund the Town's approved annual budget.
Recommendation
STAFF RECOMMENDATION:
Approve the resolution certifying the mill levy for 2025, to be collected in 2026.
Body
SUMMARY/KEY POINTS
* The total mill levy to be certified with each county is 13.237 for 2025, to be collected in 2026.
* The new mill levy represents a reduction of 0.145 mills from the previous year's levy.
* The net total taxable assessed valuation increased by $55,332,441, or 7.8%, compared to the prior year.
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 increased by 9.1% from $455,014,930 in 2025 to $496,210,020 in 2026. The Town's gross total taxable assessed valuation for properties within Boulder County increased by 6.9% from $315,061,782 in 2025 to $336,929,498 in 2026. As a result, the Town's combined gross total taxable assessed valuation has increased 8.2% from $770,076,712 in 2025 to $833,139,518 in 2026.
The total TIF district increment in 2026 is $67,199,615, an increase of 13.0% from $59,469,250 in 2025. Net of this TIF increment, the net total taxable assessed valuation on which the Town's mill levy is cal...
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