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645 Beacon Lite Rd., Monument CO 80918 Phone: [PHONE REDACTED] Fax: [PHONE REDACTED] www.townofmonument.org December 12, 2022 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 93-2022 on December 5, 2022. The Town Council certified the Property Tax Mill Levy at 5.750. The Town of Monument is limited to the 5.750 Mill Levy since we cannot exceed prior year mills per TABOR restrictions. The 5.5% Revenue limit increase would have allowed a larger increase in property tax collections for 2023, but without a vote of approval from the citizens during an election, our mill levy cannot exceed the previous year’s levy rate. As per the attached resolution, 5.750 mills will be the certified Property Tax Mill Levy for Fiscal Year 2022, Budget Year 2023. This certified Property Tax Mill Levy will generate $1,225,306 in property tax revenue for 2020. Enclosed is a copy of Resolution 93-2022 approving the Mill Levy, which is signed by Mayor Pro Tem Elliott and attested by Laura Hogan, Town Clerk. Thank you for your assistance with this process. Please let me know if you have any questions. Sincerely, Mona Hirjoi, CPA Finance Director 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 2022 (Budget Year 2023) Monument (21032/1) Form DLG-53 Revised 2006 Calculated: 10:57 11/28/2022 Generated: 15:32 11/28/2022 Limit ID: 138667 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 2021 5.5% Revenue Limit to correct the revenue base, if necessary: A1a. The 2021 Revenue Limit [$1,225,305] + 2020 Amount Over Limit = $1,225,305 A1b. The lesser of Line A1a [$1,225,305] or the 2021 Certified Gross General Operating Revenue [$1,225,362] A1c. Line A1b [$1,225,305] + 2021 Omitted Revenue, if any [$50] = A1. $1,225,355 A2. Calculate the 2021 Tax Rate, based on the adjusted tax base: Adjusted 2021 Revenue Base [$1,225,355] ÷ 2021 Net Assessed Value [$213,106,460] 0.005750 = A2. A3. Total the assessed value of all the 2022 "growth" properties: Annexation or Inclusion + New Construction [$11,110,290] + Increased Production of Producing Mine [$0]¹ + Previously Exempt Federal Property [$0]¹ + New Primary Oil & Gas Production [$0]¹ = A3. $11,110,290 A4. Calculate the revenue that the "growth" properties would have generated in 2021: Line A3 [$11,110,290] x Line A2 [0.005750] = A4. $63,884 A5. Expand the Revenue Base by "revenue" from "growth" properties: Line A1 [$1,225,355] + Line A4 [$63,884] = A5. $1,289,239 A6. Increase the Expanded Revenue Base by allowable amounts: A6a. The greater of 5.5% of Line A5 [$70,908] or $0 = $70,908 A6b. Line A5 [$1,289,239] + Line A6a [$70,908] + DLG Approved Revenue Increase + Voter Approved Revenue Increase = A6. $1,360,147 $1,360,143 = A7. A7. 2022 Revenue Limit: Line A6 [$1,360,147] - 2022 Omitted Property Revenue A8. Adjust 2022 Revenue Limit by amount levied over the limit in 2021: Line A7 [$1,360,143] - 2021 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. $1,360,143 = 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. 1,225,306 213,106,460 5.750 Town of Monument is limited to the 5.750 mill levy since we cannot exceed prior year mills per TABOR ---PAGE BREAK--- Budget Year 2023 Monument (21032/1) 11/28/2022 El Paso $213,106,460 $224,358,100 $0 $11,110,290 $4 $7,498 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 23 Assessor Certification 11/28/22 #132714 Certification Received Certification of Valuation ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK---