HomeMy WebLinkAboutresolution.council.095-09RESOLUTON NO. ~`J
(SERIES OF 2009)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO SETTING THE 2010 MUNICIPAL MIL LEVY RATES AND
CERTIFYING SAME TO THE BOARD OF COUNTY COMMISSIONERS FOR
PITHIN COUNTY.
WHEREAS, the City Manager, designated by Charter to prepaze 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, 2010 and ending December 31,
2010; and
WHEREAS, the net assessed valuation of the taxable property for the year 2009
in the City of Aspen returned by the County Assessor of Pitkin County on October 26th,
2009, is the sum of $1,694,855,595; 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 2010 is calculated as $567,777 and
WHEREAS, said voter approval on November 1, 2005 established the City's
general government mil levy rate at 5.410 mils upon each dollaz 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 $9,169,169 for collection year 2010; based upon the assessed valuation
as determined by the County Assessor, and
WHEREAS, voter approval on November 6, 2007 established the City's
Stormwater Fund mil levy rate at an amount not to exceed 0.650 mils upon each dollaz 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 yeazs beginning in 2008; and
WHEREAS, said mil levy rate is calculated to produce gross ad valorem tax
proceeds in the amount of $1,101,656 for collection year 2010; based upon the net
assessed valuation of the City of Aspen as determined by the County Assessor, and
WHEREAS, the net assessed valuation of taxable property in Aspen increased
approximately 35% between 2008 and 2009 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 govenunent to certify a
refund in the form of a temporazy 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 temporazy 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 2010 budget, and
providing a reasonable closing fund balance for said fiscal year, levies the following
taxes upon each dollaz of the total valuation for assessment of all taxable property within
the City of Aspen for the year 2009; 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 1.877 for the General Property Tax
mil levy and a temporary credit of 0.158 for the Stormwater Fund mil levy:
2010 Temporary 2010 Mill Levv
2010 Tax Rate Credit Rate
General Property Tax 5.410 2.212 3.198
Voter Approvedlncrease 0.335
Subtotal 5.410 1.877 3.533
StormwaterFund 0.650 0.158 0.492
Total 6.060 2.035 4.025
2009 Assessed 2010 MiIlLevy
Valuation Rate 2010 Prooerty Tax
General Fund $1,694,855,595 2.175 $3,686,311
Asset Management Fund $1,694,855,595 1.023 $1,733,837
Voter Approved Increase $1,694,855,595 0.335 $567,777
Total General Mill Levy 3.533 $5,987,925
Total Stormwater Mill Levy $1,694,855,595 0.492 $833,869
Total 2010 Property Tax $6,821,794
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, 2009.
ADOPTED THIS 23, day of Nove~r 2009
Michael
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 23, 2009, which Resolution
was adopted subsequent to public hearings on the City of Aspen's 2010 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.
Kathryn Koc ity Clerk