HomeMy WebLinkAboutresolution.council.005-24RESOLUTION 005
(SERIES 2024)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO SETTING THE 2023 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, 2024 and ending December 31,
2024; and
WHEREAS, the net assessed valuation of the taxable property for the year 2023
in the City of Aspen returned by the County Assessor of Pitkin County was certified on
January 2, 2024, is the sum of $2,956,547,2000 and
WHEREAS, the net assessed valuation of taxable property in Aspen increased
approximately 47.2% between 2022 and 2023 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 $15,994,920 for collection year 2024; 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 in 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
394411.5(2), and under C.R.S. section 394411.5(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
Clean River 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 Clean River mill levy rate is calculated to produce gross ad valorem tax
proceeds in the amount of $1,921,756 for collection year 2024; 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 2024 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 2023;
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 under TABOR limitations equal to 2.202 mills for the General Purpose mill levy:
General Property Tax
Stormwater Fund
Total
General Fund
Asset Management Fund
Total General Mill Levy
Total Stormwater Mill Levy
Refund/Abatements
2023 Tax Rate
0.650
5.410
6.060
2023 Assessed
Valuation
$21956,547,200
$21956,547,200
$2,956,547,200
$2,956,547,200
2023
Tempo
rary
Credit
2.202
0.000
2.202
Updated Mill
Levy Rate
2023 Mill Levy
Rate
3.208
0.650
3.858
2024 Property
Tax
1.283 $31793,250
1.925 $516911353
3.208
0.650
0.007
Total 2024 Property Tax 3.865
$9,484,603
$1,921,756
$20,696
$11,427,055
SECTI"IN 2
Pursuant to SB 23B-001, the City is hereby directed to certify and deliver this
Amended Resolution to the Board of County Commissioners for Pitkin County on or before
January 10, 2024.
AMENDED AND RE -ADOPTED THIS 9th day of January 2024,
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 Resolution 005, Series
2024, adopted by the City Council at its meeting held on January 9, 2024, and adopted
subsequent to public hearings on the City of Aspen's 2024 Municipal Budget and prior to
the final day established by law for the certification of the tax levy to Pitkin County, all
Aspen Home Rule Charter.
lww� I vet
was required by the Sections 9.8 and 9.9 of the
Nicole Henning, City erk