Property Taxes*
Property tax increases are limited to the lesser of (1) 5.5%, plus an allowance for new construction or (2) the TABOR limit of the prior year plus the CPI-U and new construction. The tax levy is set by the Board of Commissioners, however, it cannot be increased without approval of the electors. The revenue budget reflects new property tax which is total minus uncollectibles ($90,859,292 - $901,855 = $89,957,407). The property tax budget is based on the 11/27/02 assessed valuation of $4,523,288,213.
Intergovernmental
These revenues are primarily Federal and State pass through monies for social service programs, state-shared monies for roads, state lottery proceeds, other various government programs, and grant programs.
Other Revenues
Major “other revenues” include bond proceeds, sales taxes, specific ownership taxes, motor vehicle fees, recording and filing fees, Treasurer’s fees, building permits, interest earnings, various other fees, rents, and charges for services.
Fund Balance
The most significant use of fund balance is in the Open Space Fund. Bond proceeds from the previous year for land acquisitions are budgeted in 2003. The General Fund, Emergency Rescue Services Fund, Social Services Fund and Worthy Cause Fund will also use some of their available fund balance in 2003.
