HomeMy WebLinkAboutresolution.council.134-14 RESOLUTON NO. 134
(SERIES OF 2014)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO SETTING THE 2015 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, 2015 and ending December 31,
2015; and
WHEREAS, the net assessed valuation of the taxable property for the year 2014
in the City of Aspen returned by the County Assessor of Pitkin County was updated on
November 14, 2014, is the sum of$1,243,266,980; and
WHEREAS, the net assessed valuation of taxable property in Aspen increased
approximately 0.3% between 2013 and 2014 assessment years; and
WHEREAS, under section 9.9 of its Home Rule Charter, the City of Aspen shall
constitute a levy of the property tax incorporated into its adopted budget; and
WHEREAS, said mill levy has been established at an amount not to exceed 0.540
mils, and is calculated to produce gross ad valorem tax proceeds in the amount of
$6,726,074 for collection year 2015; based upon the assessed valuation as determined by
the County Assessor, 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 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 City's
Stormwater Fund separate 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$808,124 for collection year 2015; based upon the net assessed
valuation of the City of Aspen as determined by the County Assessor, and
SECTION 1
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF
THE CITY OF ASPEN, Colorado for the purpose of balancing the 2015 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 2014; 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 0.273 mils for the
General Property Tax mill levy:
2015 2015 2015
Tax Rate Temporary Credit Mill Levy Rate
General Property Tax 5.410 0.273 5.137
Stormwater Fund 0.650 0.000 0.650
Total 6.060 0.273 5.787
2014 Assessed Updated Mill Levy 2015 Property
Valuation Rate Tax
General Fund $1,243,266,980 1.798 $2,235,394
Asset Management Fund $1,243,266,980 3.339 $4,151,268
Total General Mill Levy 5.137 $6,386,662
Total Stormwater Mill Levy $1,243,266,980 0.650 $808,124
Refund/Abatements $1,243,266,980 0.030 $37,298
Total 2015 Property Tax 5.817 $7,232,084
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, 2014.
ADOPTED THIS 8, day of December 2014
even Sk dron, Mayor
1, 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 8, 2014, which Resolution was
adopted subsequent to public hearings on the City of Aspen's 2015 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 and9.9 of he Aspen Home Rule
Charter.
inda Manning, City Clerk