HomeMy WebLinkAboutresolution.council.122-19 RESOLUTION NO. 122
(SERIES OF 2019).
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO SETTING THE 2020 MUNICIPAL MILL 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, 2020 and ending December 31,.
2020; and
WHEREAS, the net assessed valuation of the taxable property for the year 2019
in the City of Aspen returned by the County Assessor of Pitkin County was certified on
December 5, 2019, is the sum of$1,830,655,150; and
WHEREAS, the net assessed valuation of taxable property in Aspen increased
approximately 12.8% between 2018 and 2019 assessment years; and
WHEREAS, under section 9.9 of its Home Rule Charter, the City of Aspen shall
constitute a levy of the property taxes incorporated into its adopted budget; and
WHEREAS, a general purpose mill levy has been established at an amount not to
exceed 5.410 mills, and is calculated to produce gross ad valorem tax proceeds in the
amount of $9,903,844 for collection year 2020; based upon the assessed valuation as
determined by the County Assessor, and
WHEREAS, a temporary reduction in general 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 mill levy rate
reduction, provided that the certification includes the gross mill levy, the temporary
property tax credit or temporary mill levy rate reduction expressed in mill levy
equivalents, and the net mill 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 mill 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 mill levies reflect a
temporary property tax credit or temporary mill levy rate reduction for the purpose of
effecting a refund; and
WHEREAS, voter approval on November 6, 2007 established the separate City's
Stormwater Fund mill 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 mill 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 mill levy rate is calculated to produce gross ad valorem tax
proceeds in the amount of $1,189,926 for collection year 2020; based upon the net
assessed valuation of the City of Aspen as determined by the County Assessor;
SECTION 1
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF
THE CITY OF ASPEN, Colorado for the purpose of balancing the 2020 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 2019; that a temporary mill levy rate reduction is
authorized; and that the individual mill levies are expressed in terms of the gross mill
levy, the temporary mill levy rate reduction shown in mill levy equivalents, and the net
mill levy as shown below, which includes a temporary credit of 1.113 mills for the
General Purpose mill levy:
2020
Temporary 2020 Mill
2020 Tax Rate Credit Levy Rate
General Property Tax 5.410 1.113 4.297
Stormwater Fund 0.650 0.000 0.650
Total 6.060 1.113 4.947
2019 Assessed Updated Mill 2020
Valuation Lew Rate Property Tax
General Fund $1,830,655,150 2.363 $4,325,838
Asset Management Fund $1,830,655,150 1.934 $3,540,487
Total General Mill Levy 4.297 $7,866,325
Total Stormwater Mill Levy $1,830,655,150 0.650 $1,189,926
Refund/Abatements $1,830,655,150 0.015 $27,460
Total 2020 Property Tax 4.962 $9,083,711
SECTION 2
The City is hereby directed to certify and deliver this Resolution to the Board of County
Commissioners for Pitkin County on or before December 16, 2019.
ADOPTED THIS 16th day of December 2019,
Torre, Mayor
I, Linda Manning, 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 16, 2019, which Resolution was
adopted subsequent to public hearings on the City of Aspen's 2020 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 Ppme
Linda Manning, City Cle
RESOLUTON NO. 122
(SERIES OF 2019)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO SETTING THE 2020 MUNICIPAL MILL 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, 2020 and ending December 31,
2020; and
WHEREAS, the net assessed valuation of the taxable property for the year 2019
in the City of Aspen returned by the County Assessor of Pitkin County was certified on
December 5, 2019, is the sum of$1,847,004,420; and
WHEREAS, the net assessed valuation of taxable property in Aspen increased
approximately 13.8% between 2018 and 2019 assessment years; and
WHEREAS, under section 9.9 of its Home Rule Charter, the City of Aspen shall
constitute a levy of the property taxes incorporated into its adopted budget; and
WHEREAS, a general-purpose mill levy has been established at an amount not to
exceed 5.410 mills, and is calculated to produce gross ad valorem tax proceeds in the
amount of $9,992,294 for collection year 2020; based upon the assessed valuation as
determined by the County Assessor, and
WHEREAS, a temporary reduction in general 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 mill levy rate
reduction, provided that the certification includes the gross mill levy, the temporary
property tax credit or temporary mill levy rate reduction expressed in mill levy
equivalents, and the net mill 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 mill 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 mill levies reflect a
temporary property tax credit or temporary mill levy rate reduction for the purpose of
effecting a refund; and
WHEREAS, voter approval on November 6, 2007 established the separate City's
Stormwater Fund mill 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 mill 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 mill levy rate is calculated to produce gross ad valorem tax
proceeds in the amount of $1,200,553 for collection year 2020; based upon the net
assessed valuation of the City of Aspen as determined by the County Assessor;
SECTION 1
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF
THE CITY OF ASPEN, Colorado for the purpose of balancing the 2020 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 2019; that a temporary mill levy rate reduction is
authorized; and that the individual mill levies are expressed in terms of the gross mill
levy, the temporary mill levy rate reduction shown in mill levy equivalents, and the net
mill levy as shown below, which includes a temporary credit of 1.131 mills for the
General Purpose mill levy:
2020
Temporary 2020 Mill
2020 Tax Rate Credit Levy Rate
General Property Tax 5.410 1.131 4.279
Stormwater Fund 0.650 0.000 0.650
Total 6.060 1.131 4.929
2019 Assessed Updated Mill 2020
Valuation Levy Rate PropertV Tax
General Fund $1,847,004,420 2.353 $4,346,001
Asset Management Fund $1,847,004,420 1.926 $3,557,331
Total General Mill Levy 4.279 $7,903,332
Total Stormwater Mill Levy $1,847,004,420 0.650 $1,200,553
Refund/Abatements $1,847,004,420 0.015 $27,705
Total 2020 Property Tax 4.944 $9,131,590
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, 2019.
ADOPTED THIS 10th day of December 2019,
Torre, Mayor
I, Linda Manning, 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, 2019, which Resolution was
adopted subsequent to public hearings on the City of Aspen's 2020 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 As en Ho m R ZC iter.
Linda Manning, City C1 k