Eagle County assessor explains home value and tax rate
EAGLE COUNTY Each year county commissioners, city councils, school boards, and special districts hold public budget hearings to determine the revenue needed for the next years operations. In most cases, those governmental entities are making budgetary decisions during this month. The assessors duty is to report the total assessed value to each of the taxing districts so an appropriate mill levy can be calculated by each of the districts. The Eagle County Assessors Office determines market value on all Eagle County properties. For the current 2008 tax year, values will normally match the 2007 values unless a change was made to a property. Typical value changes are due to new subdivisions, additions or remodels and demolition or destruction of existing structures. The mill levy or rate of taxation on your property tax bill is determined by the elected or appointed officials who sit on the boards of the various taxing districts. Each of the districts you pay taxes to is listed on your 2007 tax bill. The individual districts determine the revenue needed to operate during the coming fiscal year. The required revenue is then divided by the total assessed value to determine the mill levy. Following is an example of this process:Calculating a mill levy:The assessor has determined that the total assessed value for a certain taxing district is $100,000,000.The district has determined the required property tax revenue is $1,398,000.$ 1,398,000 = .013980% or 13.98 mills$100,000,000Mill levies are calculated during the annual budget process of each taxing district, usually during the months of September through November, these tax rates are then used to calculate property taxes to be collected the following year. Do you know if your taxing districts have debruced? This likely had an impact on your 2007 property taxes payable in 2008. If a district has debruced, some or all of the restrictions placed on the amount of revenue they can collect and spend have been lifted. You can get debrucing information directly from each district or from the Division of Local Government, state of Colorado, at (303) 866-2156. You have the right to inquire with each district as to any proposed revenue increase which may be generated due to increases in assessed value or debrucing measures which have been imposed by voter approval. You have the right to attend any of the public hearings regarding the budget process for each district. Listed below are phone numbers for each taxing district in Eagle County. For information regarding budget meetings you can contact the tax districts directly or look for budget hearing dates in your local newspaper: Eagle County, 328-3510Colorado Mountain College, (970) 945-8691Eagle County Schools, 328-6321Avon, 748-4055Eagle, 328-6354Gypsum,524-7514Minturn, 827-5645Red Cliff, 827-5303Vail,479-2116Special districts:Arrowhead Metro, 926-6060Avon Metro, 748-4055Avon Station Metro,926-6060Bachelor Gulch Metro, 926-6060Beaver Creek Metro,926-6060Bellyache Ridge Metro, 926-6060Berry Creek Metro, 926-6060Buckhorn Valley Metro 1, 926-6060Buckhorn Valley Metro 2, 926-6060Cascade Village Metro, 926-6060Cedar Hill Cemetery,524-9351Chatfield Corners Metro, 926-6060Colo River Water Conservation, (970) 945-8522Confluence Metro, 926-6060Cordillera Metro, (303) 858-1800Cordillera Metro (Consolidated), (303) 858-1800Cordillera Mtn Metro, (303) 858-1800Cordillera Valley Club Metro, 926-6060Cotton Ranch Metro, 926-6060Crown Mountain Park & Rec, 926-6060Eagle County Health Service, 926-6060Eagle County Conservation, 328-7137Eagle Cemetery, 328-1400Eagle Ranch Metro, 926-6060Eagle River Fire, 748-9665Eagle River Station, (303) 592-4380Eagle River Water & San, 476-7480ERW&S Sub district, 476-7480Eagle Sanitation, 328-6354Eagle Valley Library, 328-8800Eagle-Vail Metro, 926-6060Edwards Metro, 926-6060Greater Eagle Fire, 328-7244Gypsum Fire, 524-7101Holland Creek Metro, 926-6060Horse Mtn Ranch Metro, 926-6060Lake Creek Metro, 926-6060Mid-Valley Metro, 926-6060Minturn Cemetery, 926-6060Mountain Vista Metro, 926-6060Red Sky Ranch Metro, 926-6060Saddle Ridge Metro, 926-6060Smith Creek Metro, 926-6060Solaris Metro 1, 926-6060Solaris Metro 2, 926-6060Solaris Metro 3, 926-6060Squaw Creek Metro, 303-858-1800Traer Creek Metro, (303) 987-0835Two Rivers Metro, 926-6060Vail Park & Rec, 926-6060Vail Square Metro 1, 926-6060Vail Square Metro 2, 926-6060Vail Square Metro 3, 926-6060Valagua Metro District, 926-6060Village Metro, (303) 987-0835W.E.C. Ambulance, 328-1130W.E.C. Metro Rec, 926-6060 Mark Chapin is the Eagle County assessor.
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