Revenue to buffer against state cuts

ASPEN REAL ESTATE – The Aspen School District board of education unanimously decided Tuesday to ask voters this fall to approve a $1.2 million annual property tax increase to help make up an expected $1.6 million budget gap in next school year’s budget.The increase would amount to a $14 annual increase on a property tax bill for a residence valued at $500,000, and $56 on a $2 million home.Unlike the tax increase approved by school district voters in 2008 for a transportation and technology tax that sunsets in 2011, the new property tax would be permanent.The proposed new tax is seen as a way to buffer the school district’s budget against anticipated cuts in state funding for schools. It’s also a potential buffer against three statewide measures that if passed in November would reduce government fees and tax revenue and restrict local governments’ ability to borrow money.
By Brent Gardner-Smith, August 24, 2010, Aspen Daily News

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