No preview available
HomeMy WebLinkAbout2014 Red Cliff Tabor Notice« Designated Election Official. Barb Smith 400 Pine Street Red Cliff, Colorado 81469 Telephone: (970) 827-5303 s SHALL THE TOWN OF RED CLIFF'S TAXES BE INCREASED BY $20,083 IN THE FISCAL YEAR COMMENCING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015 AND BY SUCH AMOUNTS AS MAY BE COLLECTED ANNUALLY THEREAFTER FOR A LIMITED 5 -YEAR PERIOD COMMENCING IN COLLECTION YEAR 2015 AND ENDING AFTER COLLECTION YEAR 2019 BY IMPOSITION OF A MILL LEVY INCREASE NOT TO EXCEED 6.122 MILLS, AS DETERMINED ANNUALLY BY THE TOWN OF RED CLIFF BOARD OF TRUSTEES, WITH SUCH ADDITIONAL TAX REVENUES TO BE COLLECTED, RETAINED AND SPENT FOR THE PURPOSE OF FUNDING ACQUISITION AND MAINTENANCE OF STREET LIGHTS, ACQUISITION AND MAINTENANCE OF VEHICLES AND EQUIPMENT AND ROAD AND SIDEWALK MAINTENANCE AND SHALL THE TOWN OF RED CLIFF BE PERMITTED TO COLLECT, RETAIN AND EXPEND ALL PROPERTY TAX REVENUES DERIVED FROM ITS ENTIRE PROPERTY TAX MILL LEVYAND ALL OTHER REVENUE RECEIVED FROM ANY SOURCE AS A VOTER APPROVED REVENUE CHANGE, OFFSET AND EXCEPTION TO THE LIMITS WHICH WOULD OTHERWISE APPLY UNDER SECTION 20 OF ARTICLE X OF THE COLORADO CONSTITUTION OR ANY OTHER LAW AND AS AN INCREASED LEVY EXEMPT FROM THE TAX INCREASE LIMITATIONS CONTAINED IN SECTION 29-1-301 OF THE COLORADO REVISED STATUTES? Fiscal Year Soendina Information: N 2014 (Estimated) $ 203,102 2013 (Actual) $ 209.997 2012 (Actual) $ 221,053 2011 (Actual) $ 257.415 2010 (Actual) $ 315,376 Overall percentage change from 2010 through 2014: -35.6% Overall dollar change from 2010 through 2014: -$112,274 First Full Fiscal Yggr Estimates: Estimated 2015 tax increase authorized by Ballot Issue 2F: $20,083 Estimate 2015 spending without taking into account the tax increase authorized by Ballot Issue 2F: $ 206,528 Red Cliff's assessed property values have decreased by 46% over two years, which has left just enough revenue to pay for the absolute essentials, but does not allow the Town to make progress on its infrastructure or assets. This 6.18 mill levy increase would give the general budget a revenue boost of 18.1%, while only raising the individual tax bill by 7.6%, For every $100k of actual value (approximately $7953 assessed value), the tax bill will go up by approximately $49 for 2015. The average property in Red Cliff is worth approximately $120,000 (from the current value analysis), so the bill would go up by approximately $59 annually. This increase will fast for five years and sunset in 2020, at which time the individual tax bill will lower to the current level. This property tax increase will allow the Town's maintenance department to better plan for repairs and maintenance on the Town's equipment. Currently, with the loss of revenue over the last few years, our Head of Maintenance must wait until equipment actually breaks down and then perform emergency unbudgeted repairs on it because there are not sufficient funds in the budget for preventative maintenance on the equipment, some of which is more than 40 years old. With this 5 year increase, funds will be allocated in the budget so maintenance and repairs can be performed at a more appropriate time, such as, when the equipment is not in use. This will allow our maintenance team to dedicate more time to operations (i.e. snow -plowing, road repair) when it is most needed instead of in the shop trying to get the needed equipment functioning to perform those duties. Approval of this measure will also provide the extra revenue needed to install modern LED streetlights that will look nicer and perform much better than the lights removed by Xcel. Summary of Written Comments AGAINST Ballot Issue 2F: No comments were filed by the constitutional deadline.