Sample shows taxes fell between 18.5 and 52 percent, reflecting drastic drop in values
BASALT REAL ESTATE — Plummeting property values in the Roaring Fork Valley portion of Eagle County were finally reflected in tax bills that arrived Tuesday. Property values generally fell about 35 percent in the part of Eagle County that includes El Jebel, part of Basalt and portions of Missouri Heights when the assessor performed a mandatory revaluation in 2011. The drop will be reflected for the first time in the bills for 2011 taxes due in 2012. There isn’t a direct correlation in property value decreases and tax bill decreases, Eagle County Assessor Mark Chapin said. That’s because some governmental entities have voter permission to adjust their tax rates. Roughly half of the special taxing district in Eagle County have that flexibility, Chapin said. Therefore, tax-bill decreases vary in different parts of the county.
By Scott Condon, Jan 19, 12 AT
Positive note: With lower property valuations, non- profit land acquisition opportunities abound for organizations and city governments to postion themselves for the economic recovery: The Roaring Fork Conservancy has applied for approval from Basalt to build an 8,430-square-foot structure on the banks of the Roaring Fork River.