No Minturn tax breaks
Vail, CO Colorado
MINTURN, Colorado ” Residents won’t get property tax breaks for “at least a couple years,” Town Councilman Jerry Bumgarner said.
Bumgarner asked town staffers to look into the possibility of giving Minturn property owners tax breaks in May, but Bumgarner said town councilors decided against those breaks at a meeting Wednesday night.
“You just have to be fiscally responsible and not put yourself in a hole,” Bumgarner said.
Residents only would have paid $14 less in taxes per $100,000 of the assessed values of their homes, said Jay Brunvand, the town’s treasurer and clerk. So if a person’s home were worth $200,000, he or she would have paid only $28 less come tax time, Brunvand said.
“It’s not material enough to make a dent on some of these property taxes,” said Brunvand, adding that the town keeping the money made more sense for now.
The abatements for property owners would have been drawn from taxes on the more than $1 million assessed value of the Ginn Development Co.’s property. Residents in May annexed into the town 4,300 acres of property owned by Ginn, which wants to build 1,700 homes and condominiums, ski slopes and a golf course on and around Battle Mountain, south of downtown Minturn.
Giving tax breaks will make more sense when the assessed value of Ginn’s property rises, Brunvand said. The town also temporarily could lower its rate at some point, he said.
Councilors “want to keep it on the burner, not do away with the idea,” Brunvand said.
Minturn has run on no more than a $1.5 million annual budget during Mayor Hawkeye Flaherty’s long tenure, Flaherty has said. Ginn is expected to bring millions in annual tax revenue to the town in coming years. Town councilors will vote again, possibly later this year, on whether to finally approve Ginn’s plans.
Before the referendum on Ginn in May, Bumgarner said he wanted to “dispel this myth” that people wouldn’t be able to afford to live in Minturn due to rising property taxes if voters approved a private ski resort in the town.
Staff Writer Steve Lynn can be reached at 970-748-2931 or firstname.lastname@example.org.
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