HomeMy WebLinkAboutresolution.council.113-12 RESOLUTON NO. 113
(SERIES OF 2012)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO SETTING THE 2013 MUNICIPAL MIL LEVY RATES AND
CERTIFYING SAME TO THE BOARD OF COUNTY COMMISSIONERS FOR
PITKIN 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, 2013 and ending December 31,
2013; and
WHEREAS, the net assessed valuation of the taxable property for the year 2012
in the City of Aspen returned by the County Assessor of Pitkin County was updated on
November 29, 2012, is the sum of$1,277,761,150; and
WHEREAS, said mil levy is calculated to produce gross ad valorem tax proceeds
in the amount of$6,912,688 for collection year 2013; 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 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$830,545 for collection year 2013; 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 0.1% between 2011 and 2012 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 2013 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 for the year 2012; 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 0.755 for the General Property Tax
mil levy:
2013 Temporary 2013 Mil Levy
2013 Tax Rate Credit Rate
General Property Tax 5.410 0.755 4.655
Stormwater Fund 0.650 0.000 0.650
Total 6.060 0.755 5.305
2012 Assessed Updated Mil Levy 2013
Valuation Rate Property Tax
General Fund $1,277,761,150 1.629 $2,081,473
Asset Management Fund $1,277,761,150 3.026 $3,866,505
Total General Mil Levy 4.655 $5,947,978
Total Stormwater Mil Levy $1,277,761,150 0.650 $830,545
Refund/Abatements $1,277,761,150 0.041 $52,388
Total 2013 Property Tax 5.346 $6,830,911
SECTION 2
The City Clerk is hereby directed to certify and deliver this Resolution to the Board of
County Commissioners for Pitkin County on or before December 15, 2012.
ADOPTED THIS 10, day of December 2012
Micha C. Ireland, May
I, KATHRYN KOCH, duly appointed and acting City Clerk of the City of Aspen,
Colorado, do hereby certify that the foregoing is a true and correct copy of the Resolution
adopted by the City Council at its meeting held on December 10, 2012, which Resolution
was adopted subsequent to public hearings on the City of Aspen's 2013 Proposed
Municipal Budget and prior to the final day established by law for the certification of the
tax levy to Pitkin County, all was required by the Sections 9.8 and 9.9 of the Aspen
Home Rule Charter.
Kathryn Koch, ity Clerk
County Tax Entity Code DOLA LGID/SID /
CERTIFICATION OF TAX LEVIES for NON-SCHOOL Governments
TO: County Commissioners) of Pitkin County , Colorado.
On behalf of the City of Aspen
(taxing entity)A
the City Council
(governing body)$
of the City of Aspen, Colorado
(local government)
Hereby officially certifies the following mills
to be levied against the taxing entity's GROSS $ 1,277,761,150
assessed valuation of: (GROSSD assessed valuation,Line 2 ofthe Certification of Valuation Form DLG 57E)
Note: If the assessor certified a NET assessed valuation
(AV)different than the GROSS AV due to a Tax
Increment Financing(TIF)Arear the tax levies must be $ 1,277,761,150
calculated using the NET AV. The taxing entity's total (NETG assessed valuation,Line 4 of the Certification of Valuation Form DLG 57)
property tax revenue will be derived from the mill levy
multiplied against the NET assessed valuation of
Submitted: 1211012012 for budget/fiscal year 2013
(not later than Dec.15) (mm/dd/yyyy) (yyyy)
PURPOSE(see end notes for definitions and examples) LEVY REVENUE
1. General Operating Expenses" 5.410 mills $ 6,912,688
2. <Minus>Temporary General Property Tax Credit/
Temporary Mill Levy Rate Reduction' < 0.755> mills $ < 964,710 >
SUBTOTAL FOR GENERAL OPERATING: 4.655 mills $ 5,947,978
3. General Obligation Bonds and Interest' mills $
4. Contractual Obligations" mills $
5. Capital Expenditures`' mills $
6. Refunds/Abatements' 0.041 mills $ 52,388
7. Other" (specify): City's Stormwater Fund mills $
Clean River Initiative 0.650 mills $ 830,545
TOTAL: Sum of General operating 1 5.346 mills $ 6,830,91 1
1 1 L L Subtotal and Lines 3 to 7 1
Contact person: Daytime
(print) Don Taylor phone: (970) 920.5027
Signed: i Title:
Include one copy of this tax entity's complet form when filing the local government's budget by January 31st,per 9-1-113 C.R.S.,with the
Division of Local Government(DLG),Room 521, 1313 Sherman Street,Denver, CO 80203. Questions? Call DLG at(303)866-2156.
'If the taxing entity's boundaries include more than one county,you must certify the levies to each county. Use a separate form
for each county and certify the same levies uniformly to each county per Article X, Section 3 of the Colorado Constitution.
z Levies must be rounded to three decimal places and revenue must be calculated from the total NET assessed valuation(Line 4 of
Form DLG57 on the County Assessor's teal certification of valuation).
Form DLG 70(rev 7/08) Page I of 4
CERTIFICATION OF TAX LEVIES, continued
THIS SECTION APPLIES TO TITLE 32,ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES
FOR PAYMENT OF GENERAL OBLIGATION DEBT (32-1-1603 C.R.S.). Taxing entities that are
Special Districts or Subdistricts of Special Districts must certify separate mill levies and revenues to the
Board of County Commissioners, one each for the funding requirements of each debt(32-1-1603, C.R.S.)
Use additional pages as necessary. The Special District's or Subdistrict's total levies for general obligation
bonds and total levies for contractual obligations should be recorded on Page 1, Lines 3 and 4 respectively.
CERTIFY A SEPARATE MILL LEVY FOR EACH BOND OR CONTRACT:
BONDS':
1. Purpose of Issue:
Series:
Date of Issue:
Coupon Rate:
Maturity Date:
Levy:
Revenue:
2. Purpose of Issue:
Series:
Date of Issue:
Coupon Rate:
Maturity Date:
Levy:
Revenue:
CONTRACTS':
3. Purpose of Contract:
Title:
Date:
Principal Amount:
Maturity Date:
Levy:
Revenue:
4. Purpose of Contract:
Title:
Date:
Principal Amount:
Maturity Date:
Levy:
Revenue:
Use multiple copies of this page as necessary to separately report all bond and contractual obligations per 32-1-1603,C.R.S.
Form DLG 70(rev 7/08) Page 2 of 4
Notes:
"Taxing Entity—A jurisdiction authorized by law to impose ad valorem property taxes on taxable property
located within its territorial limits(please see notes B,C, and H below). For purposes of the DLG 70 only, a
taxing entity is also a geographic area formerly located within a taxing entity's boundaries for which the county
assessor certifies a valuation for assessment and which is responsible for payment of its share until retirement of
financial obligations incurred by the taxing entity when the area was part of the taxing entity. For example: an
area of excluded property formerly within a special district with outstanding general obligation debt at the time of
the exclusion or the area located within the former boundaries of a dissolved district whose outstanding general
obligation debt service is administered by another local governments.
B Governing Body—The board of county commissioners,the city council,the board of trustees,the board of
directors,or the board of any other entity that is responsible for the certification of the taxing entity's mill levy.
For example: the board of county commissioners is the governing board ex officio of a county public
improvement district(PID);the board of a water and sanitation district constitutes ex officio the board of directors
of the water subdistrict.
c Local Government-For purposes of this line on Page 1 of the DLG 70,the local government is the political
subdivision under whose authority and within whose boundaries the taxing entity was created. The local
government is authorized to levy property taxes on behalf of the taxing entity. For example,for the purposes of
this form:
1. a municipality is both the local government and the taxing entity when levying its own levy for its entire
jurisdiction;
2. a city is the local government when levying a tax on behalf of a business improvement district(BID)
taxing entity which it created and whose city council is the BID board;
J. a fire district is the local government if it created a subdistrict,the taxing entity, on whose behalf the fire
district levies property taxes.
4. a town is the local government when it provides the service for a dissolved water district and the town
board serves as the board of a dissolved water district,the taxing entity,for the purpose of certifying a
levy for the annual debt service on outstanding obligations.
D GROSS Assessed Value-There will be a difference between gross assessed valuation and net assessed
valuation reported by the county assessor only if there is a"tax increment financing"entity(see below), such as a
downtown development authority or an urban renewal authority,within the boundaries of the taxing entity. The
board of county commissioners certifies each taxing entity's total mills upon the taxing entity's Gross Assessed
Value found on Line 2 of Form DLG 57.
E Certification of Valuation by County Assessor,Form DLG 57-The county assessor(s)uses this form(or one
similar)to provide valuation for assessment information to a taxing entity. The county assessor must provide this
certification no later than August 25"'each year and may amend it, one time, prior to December 10"'.
F TIF Area—A downtown development authority(DDA)or urban renewal authority(URA),may form plan
areas that use"tax increment financing"to derive revenue from increases in assessed valuation(gross minus net,
Form DLG 57 Line 3)attributed to the activities/improvements within the plan area. The DDA or URA receives
the differential revenue of each overlapping taxing entity's mill levy applied against the taxing-entity's gross-
assessed value after subtracting the taxing entity's revenues derived from its mill levy applied against the net
assessed value.
G NET Assessed Value—The total taxable assessed valuation from which the taxing entity will derive revenues
for its uses. It is found on Line 4 of Form DLG 57.
H General Operating Expenses(DLG 70 Page 1 Line 1)—The levy and accompanying revenue reported on
Line 1 is for general operations and includes,in aggregate, all levies for and revenues raised by a taxing entity for
purposes not lawfully exempted and detailed in Lines 3 through 7 on Page 1 of the DLG 70. For example: a fire
pension levy is included in general operating expenses,unless the pension is voter-approved,if voter-approved,
use Line 7(Other).
Form DLG 70(rev 7/08) Page 3 of 4
I Temporary Tax Credit for Operations(DLG 70 Page 1 Line 2�—The Temporary General Property Tax
Credit/Temporary Mill Levy Rate Reduction of 39-1-111.5, C.R.S. may be applied to the taxing entity's levy for
general operations to effect refunds. Temporary Tax Credits(TTCs)are not necessary for other types of levies
(non-general operations)certified on this form because these levies are adjusted from year to year as specified by
the provisions of any contract or schedule of payments established for the payment of any obligation incurred by
the taxing entity per 29-1-301(1.7), C.R.S., or they are certified as authorized at election per 29-1-302(2)(b),
C.R.S.
J General Obligation Bonds and Interest(DLG 70 Page 1 Line 3�—Enter on this line the total levy required to
pay the annual debt service of all general obligation bonds. Per 29-1-301(1.7)C.R.S.,the amount of revenue
levied for this purpose cannot be greater than the amount of revenue required for such purpose as specified by the
provisions of any contract or schedule of payments. Title 32,Article 1 Special districts and subdistricts must
complete Page 2 of the DLG 70.
K Contractual Obligation (DLG 70 Page 1 Line 4)—If repayment of a contractual obligation with property tax
has been approved at election and it is not a general obligation bond(shown on Line 3),the mill levy is entered on
this line. Per 29-1-301(1.7)C.R.S.,the amount of revenue levied for this purpose cannot be greater than the
amount of revenue required for such purpose as specified by the provisions of any contract or schedule of
payments.
L Capital Expenditures(DLG 70 Page 1 Line 5�—These revenues are not subject to the statutory property tax
revenue limit if they are approved by counties and municipalities through public hearings pursuant to 29-1-
301(1.2)C.R.S. and for special districts through approval from the Division of Local Government pursuant to 29-
1-302(l.5)C.R.S. or for any taxing entity if approved at election. Only levies approved by these methods should
be entered on Line 5.
M Refunds/Abatements(DLG 70 Page 1 Line 6)--The county assessor reports on the Certification of Valuation
(DLG 57 Line 11)the amount of revenue from property tax that the local government did not receive in the prior
year because taxpayers were given refunds for taxes they had paid or they were given abatements for taxes
originally charged to them due to errors made in their property valuation. The local government was due the tax
revenue and would have collected it through an adjusted mill levy if the valuation errors had not occurred. Since
the government was due the revenue, it may levy, in the subsequent year, a mill to collect the refund/abatement
revenue. An abatement/refund mill levy may generate revenues up to, but not exceeding,the refund/abatement
amount from Form DLG 57 Line 11.
1. Please Note: If the taxing entity is in more than one county, as with all levies,the abatement levy must be
uniform throughout the entity's boundaries and certified the same to each county. To calculate the
abatement/refund levy for a taxing entity that is located in more than one county, first total the
abatement/refund amounts reported by each county assessor,then divide by the taxing entity's total net
assessed value,then multiply by 1,000 and round down to the nearest three decimals to prevent levying
for more revenue than was abated/refunded. This results in an abatement/refund mill levy that will be
uniformly certified to all of the counties in which the taxing entity is located even though the
abatement/refund did not occur in all the counties.
N Other(DLG 70 Page 1 Line 7)—Report other levies and revenue not subject to 29-1-301 C.R.S. that were not
reported above. For example: a levy for the purposes of television relay or translator facilities as specified in
sections 29-7-101,29-7-102, and 29-7-105 and 32-1-1005 (1) (a), C.R.S.; a voter-approved fire pension levy; a
levy for special purposes such as developmental disabilities,open space, etc.
Form DLG 70(rev 7/08) Page 4 of 4