Though overall property tax collections are down 12 percent, overall property values in Pitkin County have dropped about 25 percent — from $3.6 billion to $2.7 billion. [Editor: By Colorado law, property valuations ocurr every two years for taxing purposes. “2011 and 2012 values are reflective of the market as of our appraisal date:June 30, 2010. Nothing after this date can be considered.”, from Pitkin County Assessor.]. But not everyone will see a decrease despite the overall decline in collections. The decline in property values have hit the school districts significantly — Aspen School District will collect $4.6 million less in 2011 than it did in 2010, while CMC’s tax take will drop by $3.6 million.
ASPEN REAL ESTATE — Property tax collections for close to 50 taxing districts in Pitkin County will total $103.1 million in 2011, down 12 percent from 2010. Bills for the 2011 taxes will go out in mid-January. Pitkin County commissioners on Wednesday certified the mill levies for 48 taxing districts, including area school districts, Aspen Valley Hospital, Colorado Mountain College, municipalities, library districts, a multitude of water and sanitation districts, metropolitan districts and others. Property owners pay into various taxing districts, depending on the location of their property. Some districts encompass the entire county, while others collect money in areas as small as a particular subdivision.
By Janet Urquhart, Dec. 22, 2011 AT
Chart: Pitkin County Board of Commissioners (BOCC)