HomeMy WebLinkAboutresolution.council.109-08RESOLUTON NO. 109
(SERIES OF 2008)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO SETTING THE 2009 MUNICIPAL MIL .LEVY RATES AND
CERTIFYING SAME TO THE BOARD OF COUNTY COMMISSIONERS FOR
PITHIN COUNTY.
WHEREAS, the City Manager, designated by Charter to prepare the budget, has
prepared and submitted to the Mayor and City Council the Annual Budget for the City of
Aspen, Colorado for the fiscal year beginning January 1, 2009 and ending December 31,
2009; and
WHEREAS, the assessed valuation of the taxable property for the year 2008 in
the City of Aspen returned by the County Assessor of Pitkin County on August 25th,
2008, is the sum of $1,252,114,470; and
WHEREAS, THE CITIZENS OF ASPEN in November, 2005, authorized the
City of Aspen to collect, retain, and expend any property tax that is in excess of the limits
of Article X, Section 20, of the Colorado Constitution, for the purpose of purchasing
alternative fuel (e.g. hybrid) bus or busses for use within the City's RFTA routes;
Improving the quality of storm water runoff entering the Roaring Fork River through
construction of the Jenny Adair Wetlands Project, and associated improvements to the
City's storm water runoff retention and sediment removal systems; Design and
construction of a new outdoor swimming pool at the Aspen Recreation Center; and,
Construction of improvements to key elements of the City's sidewalk and trail system
including Americans with Disabilities Act (ADA) improvements; and the amount of such
excess revenue available for these purposes for 2008 is calculated as $1,796,784, and
WHEREAS, said voter approval on November 1St' 2005 established the City's
general government mil levy rate at 5.410 mils upon each dollar of the assessed valuation
on all taxable property within the city for the five year assessment period beginning in
2005 and ending in 2009, and permitting collection of property tax revenues in excess of
the mil levy limitation provided in Article X, Section 20 of the Colorado Constitution for
property tax collection years 2006 through 2010; and
WHEREAS, said mil levy is calculated to produce gross ad valorem tax proceeds
in the amount of $6,773,939 for collection year 2009; based upon the assessed valuation
as determined by the County Assessor, and
WHEREAS, voter .approval on November 6t", 2007 established the City's Storm
water program mil levy rate at an amount not to exceed 0.65 mils upon each dollar of
assessed valuation on all taxable property within the city annually with no date of
expiration, permitting collection of property tax revenues in excess of the mil levy
limitation provided in Article X, Section 20 or the Colorado Constitution for property tax
collection in all future years beginning in 2008; and
WHEREAS, said mil levy rate is calculated to produce gross ad valorem tax
proceeds in the amount of $813,874 for collection year 2009; based upon the assessed
valuation of the City of Aspen as determined by the County Assessor, and
WHEREAS, the assessed valuation of taxable property in Aspen increased
approximately 52% between 2005 and 2008 assessment years, and
WHEREAS, a temporary reduction in property tax collections is desired by the
City Council in order to reduce the tax burden on owners of taxable property within the
City of Aspen while preserving the City's ability to increase property taxes to levels
previously authorized by City of Aspen voters as described above, and
WHEREAS, C.R.S. section 39-1-111.5 authorizes a local government to certify a
refund in the form of a temporary property tax credit or a temporary mil levy rate
reduction, provided that the certification includes the gross mil levy, the temporary
property tax credit or temporary mil levy rate reduction expressed in mil levy equivalents,
and the net mil levy and under C.R.S. section 39-1-111.5(4), the Assessor shall,
concurrent with delivery of tax warrants to the Treasurer, itemize duly certified
temporary property tax credits or temporary mil levy rate reductions in the manner set
forth in C.R.S. section 39-1-111.5(2), and under C.R.S. section 39-1-111.5(5) the tax
statements shall indicate by footnote which local government mil levies reflect a
temporary property tax credit or temporary mil levy rate reduction for the purpose of
effecting a refund.
SECTION 1
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF
THE CITY OF ASPEN, Colorado for the purpose of balancing the 2009 budget, and
providing a reasonable closing fund balance for said fiscal year, levies the following
taxes upon each dollar of the total valuation for assessment of all taxable property within
the City of Aspen or the year 2008; that a temporary mil levy rate reduction is authorized;
and that the individual mil levies are expressed in terms of the gross mil levy, the
temporary mil levy rate reduction shown in mil levy equivalents, and the net mil levy as
shown below, which includes a temporary credit of .611: .
2008 2008
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of As
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R
t Assessed
V Net 2009
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PS
General Property Tax Mil Levy: aluation Mil Levv Pro eq.~y Tax
General Fund: $1,252,114,470 2.186 $2,737,122
Asset Management Fund: $1,252,114,470 1.789 $2,240,033
TA80R Exemption Projects:: $1,252,114,470 0.824 1 1 742
TOTAL: General Mil Levy: 4.799 $6,008,897
Stormwater Fund Mil Levy: $1,252,114,470 0.650 5813,874
TOTAL 2008 Property Tax: $6,822,772
SECTION 2
The City Clerk is hereby directed to certify and deliver this Resolution to the Board of
County Commissioners for Pitkin County on or before December 15, 2008.
ADOPTED THIS 24th, day of November 2008
Michael C.
I, KATHRYN KOCH, duly appointed and acting City Clerk of the City of Aspen,
Colorado, do hereby certify that the foregoing is a true and correct copy of the Resolution
adopted by the City Council at its meeting held on November 24th, 2008, which
Resolution was adopted subsequent to public hearings on the City of Aspen's 2009
Proposed Municipal Budget and prior to the final day established by law for the
certification of the tax levy to Pitkin County, all was required by the Sections 9.8 and 9.9
of the Aspen Home Rule Charter. , ~ ~ J
Kathryn Koc~ City Clerk