HomeMy WebLinkAboutresolution.council.128A-22AMENDED RESOLUTION NO. 128-A
(SERIES OF 2022)
AN AMENDED RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ASPEN, COLORADO SETTING THE 2022 MUNICIPAL MILL LEVY RATES
AND CERTIFYING SAME TO TIIE 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, 2023 and ending December 31,
2023; and
WHEREAS, the net assessed valuation of the taxable property for the year 2022
in the City of Aspen returned by the County Assessor of Pitkin County was certified on
November 22, 2022, is the sum of $2,008,903,130; and
WHEREAS, the net assessed valuation of taxable property in Aspen decreased
approximately 0.3% between 2021 and 2022 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 $10,868,166 for collection year 2023; 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 $1,305,787 for collection year 2023; based upon the net assessed valuation
of the City of Aspen as determined by the County Assessor.
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF
THE CITY OF ASPEN, Colorado hereby approves and adopts the following:
SECTION 1
For the purpose of balancing the 2023 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
2022; 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 1.069 mills for the General Purpose mill levy:
2023
Temporary
2023 Mill Lev
2023 Tax Rate
Credit
Rate
General Property Tax
5.410
1.069
4.341
Stormwater Fund
_ 0.650
0.000
0.650
Total
6.060
1.069
4.991
2022 Assessed
Updated Mill
2023 Property
Valuation
Levy Rate
Tax
General Fund
$2,008,903,130
2.171
$4,361,329
Asset Management Fund
$2,008,903,130
2.170
$4,359,320
Total General Mill Levy
4.341
$8,720,648
Total Stormwater Mill Levy
$2,008,903,130
0.650
$1,305,787
Refund/Abatements
$2,008,903,130
0.013
$26,116
Total 2023 Property Tax
5.004
$10,052,551
SECTION 2
The City is hereby directed to ccrtify and dclivcr this Amended Resolution to the
Board of County Commissioners for Pitkin County on or before December 15, 2022.
AMENDED AND RE -ADOPTED THIS 6th day of December 2022,
Torre, Mayor
I, Nicole Henning, 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 this Amended
Resolution #128, adopted by the City Council at its meeting held on December 6, 2022,
which Amended Resolution was adopted subsequent to public hearings on the City of
Aspen's 2023 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.
U-6
Nicole Henning, City Clerk