With an ailing economy, setting property tax rates – mill levies – for 2010 is an uneasy undertaking
ASPEN, PITKIN COUNTY — Anxious taxpayers will start getting a feel Monday for how various special districts around the Roaring Fork Valley will handle property tax rates in this unusual year where they could reap sizable windfalls.Property values throughout much of Colorado surged higher this year despite the recession. That’s because the state mandated revaluation of property reflects values as of June 30, 2008 (from July 1, 2006, editor) — before the recession struck and when property values were at or near an all-time high in the Roaring Fork Valley (which includes Aspen, Snowmass Village, Basalt, Carbondale, and Glenwood Springs).The average value increased by nearly 40 percent for residential and commercial real estate in Pitkin County, according to Assessor Tom Isaac.Just when many property owners are feeling the pinch of the recession, they could see significantly higher property taxes. The valuation of the various special taxing districts — from the big ones like the city of Aspen to a small subdivision like Meadowood — reflects higher values of individual properties. Therefore, taxing districts could keep their mill levy the same as last year and reap windfall revenues.
By Scott Condon, October 12, 2009, Aspen Times
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