HomeMy WebLinkAboutresolution.council.104-09RESOLUTON NO. ~~
(SERIES OF 2009)
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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 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, 2010 and ending December 31,
2010; and
WHEREAS, the City Council previously adopted Resolution 95 on November
23, 2009 setting the mil for 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 was updated on
December 1, 2009, is the sum of $1,688,409,975; 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
w 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 $567,306 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 yeazs 2006 through 2010; and
WHEREAS, said mil levy is calculated to produce gross ad valorem tax proceeds
in the amount of $9,134,298 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 years beginning in 2008; and '"^~
WHEREAS, said mil levy rate is calculated to produce gross ad valorem tax
proceeds in the amount of $1,097,466 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 yeazs, 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 ~TM•
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 aze 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 1.862 for the General Property Tax
mil levy and a temporazy credit of 0.156 for the Stormwater Fund mil levy:
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~..,,
(General Property Tax
Voter Approvedlncrease
Subtotal
Stormwater Fund
General Fund
Asset Management Fund
Voter Approvedlncrease
Total General Mill Levy
2010 Tax Rate
5.410
5.410
0.650
6.060
2009 Assessed
Valuation
$1,688,409,975
$1,688,409,975
$1,688,409,975
2010Temporary 2010Milll
Credit Rate
2.198 3.212
0.336
1.862 3.548
0.156 0.494
2.018 4.042
Updated MiIlLevy 2010 Progerty
Rate Tax
2.184 $3,687,487
1.028 $1,735,685
0.336 $567,306
3.548 $5,990,479
I Stormwater Mill Levy $1,688,409,975
Tota12030 Property Tax
0.494
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 7, day of Dec ber 2009
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Michael C. Ireland, M yor
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 December 7, 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~; City Clerk