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645 Beacon Lite Rd., Monument CO 80918 Phone: [PHONE REDACTED] Fax: [PHONE REDACTED] www.townofmonument.org December 14, 2020 Roger Clark El Paso County Assessor’s Office 1675 West Garden of the Gods Rd, Suite 2300 Colorado Springs, CO 80907 Dear Mr. Clark, This letter is to certify the Town of Monument passed Resolution 44-2020 on December 7, 2020, after approval of the 2021 Budget. At that time, we had not yet received the Final Certification of Valuation in the mail. The Board of Trustees certified the Property Tax Mill Levy at 6.152 mills or the highest millage allowable per statutory limitations, should the Final Certification of Valuation from the County Assessor require a final millage adjustment. After receiving the Final Certification of Valuation from the County, it has been determined that the highest millage allowable is 6.152 mills. As per the attached resolution, 6.152 mills will be the certified Property Tax Mill Levy for Fiscal Year 2020, Budget Year 2021. Based on the Final Certification of Valuation received from the County, this certified Property Tax Mill Levy will generate $1,094,155 in property tax revenue for 2021. Enclosed is a copy of Resolution 44-2020 approving the Mill Levy, which is signed by Mayor Wilson and attested by Laura Hogan, Town Clerk. If you have any questions, please let me know. Sincerely, Rosa R. Ooms, CPA Finance Director/Town Treasurer Town of Monument ---PAGE BREAK--- ---PAGE BREAK--- State of Colorado Department of Local Affairs Division of Local Government Statutory Property Tax Revenue Limitation The Limit, 29-1-301, C.R.S Tax Year 2020 (Budget Year 2021) Monument (21032/1) Form DLG-53 Revised 2006 Calculated: 17:31 12/07/2020 Generated: 09:03 12/14/2020 Limit ID: 127552 The following steps were used to calculate your limit. The Division of Local Government encourages you to check each figure for accuracy. Years referenced are "Tax Year", not budget years. Amounts are rounded to whole dollars. A1. Adjust the 2019 5.5% Revenue Limit to correct the revenue base, if necessary: A1a. The 2019 Revenue Limit [$1,067,213] + 2018 Amount Over Limit = $1,067,213 A1b. The lesser of Line A1a [$1,067,213] or the 2019 Certified Gross General Operating Revenue [$1,067,187] A1c. Line A1b [$1,067,187] + 2019 Omitted Revenue, if any = A1. $1,067,188 A2. Calculate the 2019 Tax Rate, based on the adjusted tax base: Adjusted 2019 Revenue Base [$1,067,188] ÷ 2019 Net Assessed Value [$173,469,940] 0.006152 = A2. A3. Total the assessed value of all the 2020 "growth" properties: Annexation or Inclusion + New Construction [$11,135,000] + Increased Production of Producing Mine [$0]¹ + Previously Exempt Federal Property [$0]¹ + New Primary Oil & Gas Production [$0]¹ = A3. $11,135,000 A4. Calculate the revenue that the "growth" properties would have generated in 2019: Line A3 [$11,135,000] x Line A2 [0.006152] = A4. $68,503 A5. Expand the Revenue Base by "revenue" from "growth" properties: Line A1 [$1,067,188] + Line A4 [$68,503] = A5. $1,135,691 A6. Increase the Expanded Revenue Base by allowable amounts: A6a. The greater of 5.5% of Line A5 [$62,463] or $0 = $62,463 A6b. Line A5 [$1,135,691] + Line A6a [$62,463] + DLG Approved Revenue Increase + Voter Approved Revenue Increase = A6. $1,198,154 $1,198,154 = A7. A7. 2020 Revenue Limit: Line A6 [$1,198,154] - 2020 Omitted Property Revenue A8. Adjust 2020 Revenue Limit by amount levied over the limit in 2019: Line A7 [$1,198,154] - 2019 Amount Over Limit The formula to calculate a Mill Levy is: Mill Levy = Revenue ÷ Current Year's Net Total Taxable Assessed Valuation² x 1,000 ² Use the Net Total Taxable Valuation as provided on line 4 of the final Certification of Valuation from the County Assessor. ³ Rounding the mill levy up may result in revenues exceeding allowed revenue. $1,198,154 = A8.* Town of Monument Monument, CO 80132 645 Beacon Lite Rd. Attn: Budget Officer If you need assistance, please contact the Division of Local Government: www.dola.colorado.gov/dlg/ta/budgeting/ Phone: (303) 864-7720 Fax: (303) 864-7759 * THE ALLOWED REVENUE OF A8 DOES NOT TAKE INTO ACCOUNT ANY OTHER LIMITS THAT MAY APPLY TO YOUR PROPERTY TAX REVENUE, SUCH AS STATUTORY MILL LEVY CAPS, VOTER-APPROVED LIMITATIONS, THE TABOR PROPERTY TAX REVENUE LIMIT, OR THE TABOR PROHIBITION AGAINST INCREASING THE MILL LEVY WITHOUT VOTER AUTHORIZATION. THE PROPERTY TAX LIMITATIONS WORKSHEET (FORM DLG-53A) MAY BE USED TO PERFORM SOME OF THESE CALCULATIONS FOR COMPARISON TO THE LIMIT. ¹ These amounts, if certified by your County Assessor(s), may only be used in this calculation after an application has been made to the Division by November 1st (for New Primary Oil & Gas Production). Forms and guidelines are available by contacting the Division. 6.152 177,853,580 1,094,155 Town of Monument is limited to the 6.152 mill levy since we cannot exceed prior year mills per TABOR. ---PAGE BREAK--- Budget Year 2021 Monument (21032/1) 12/14/2020 El Paso $173,469,940 $177,853,580 $0 $11,135,000 $0 $1,926 Previous Net Assessed Value Current Net Assessed Value Annexation / Inclusion New Construction Collect Omitted Abatement / Refund ¹ County El Paso $0 $0 $0 County Increased Mine New Primary Oil & Gas Previously Exempt $0 $0 $0 Certified/Approved: ³ ¹ When a taxing entity certifies a levy for abatement/refunds, the levy must be uniformly certified against the listed assessed valuation for each county EVEN IF THE ABATEMENT/REFUND OCCURRED IN ONLY ONE COUNTY. ² These amounts, if certified by your county Assessors, may only be used in this calculation after an application has been made to DLG by November 1st. Forms and guidelines are available by contacting the Division. ³ These amounts have been certified/approved and are included as "growth" for calculating the 5.5% Revenue Limit. NOV 25 Assessor Certification 12/07/20 #122951 Certification Received Certification of Valuation ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK---