[bouldercouncilhotline] FW: Property taxes driving Middle Income out of Boulder

[Sin, Carol]

From: Sin, Carol
Sent: Wednesday, September 13, 2017 12:14 PM
To: HOTLINE <HOTLINE at bouldercolorado.gov>
Subject: TEST3 - RESENT: FW: Property taxes driving Middle Income out of Boulder


From: Young, Mary
Sent: Tuesday, September 12, 2017 9:33 PM
To: HOTLINE <HOTLINE at bouldercolorado.gov<mailto:HOTLINE at bouldercolorado.gov>>
Subject: Fwd: Property taxes driving Middle Income out of Boulder

This post is for the benefit of the public who would like to learn more about how property taxes are assessed.

Best,

Mary Dolores Young
Boulder City Council
303-501-2439

Begin forwarded message:
From: "Krezek, Michelle" <mkrezek at bouldercounty.org<mailto:mkrezek at bouldercounty.org>>
Date: September 1, 2017 at 5:44:06 PM MDT
To: "graycrystal at comcast.net<mailto:graycrystal at comcast.net>" <graycrystal at comcast.net<mailto:graycrystal at comcast.net>>, "YoungM at bouldercolorado.gov<mailto:YoungM at bouldercolorado.gov>" <YoungM at bouldercolorado.gov<mailto:YoungM at bouldercolorado.gov>>, "Braddock, Cynthia" <cbraddock at bouldercounty.org<mailto:cbraddock at bouldercounty.org>>
Cc: "Domenico, Cindy" <cdomenico at bouldercounty.org<mailto:cdomenico at bouldercounty.org>>, "Gardner, Deb" <dgardner at bouldercounty.org<mailto:dgardner at bouldercounty.org>>, "Jones, Elise" <ejones at bouldercounty.org<mailto:ejones at bouldercounty.org>>, "Weissmann, Paul" <pweissmann at bouldercounty.org<mailto:pweissmann at bouldercounty.org>>, "Halpin, Barbara" <bhalpin at bouldercounty.org<mailto:bhalpin at bouldercounty.org>>
Subject: FW: Property taxes driving Middle Income out of Boulder
Crystal and Mary,
Thanks for sending your concerns about increases in property tax values and the impacts those increases are having on members of our community.  We in the Commissioners’ Office have also heard these concerns from residents and are sensitive to the impact rising property values have on many in our community.

Unfortunately, while all property taxes are paid to the Boulder County Treasurer, the majority of the property tax levied on specific properties, and therefore the resulting taxes paid, are not under Boulder County’s control – we don’t set the tax rate or keep the revenues.  Generally, of the property taxes paid to the Treasurer’s Office, only about 25% is attributable to the County – school districts assess approximately 55% of the property tax paid, Cities and Towns about 11% and Special Districts approximately 8%.  Once the Treasurer collects property taxes, the revenues associated with the taxes collected for other entities are remitted to those entities.

Additionally, unlike those other local governments, Boulder County is subject to a statutory limitation on the revenue we collect. While we all saw an 18.7% average increase in the total assessed valuation for property in Boulder County, under state statute the amount of increase in property tax able to be collected by Boulder County for county use is limited to 5.5%, plus new construction growth, over the prior year.  School districts, municipalities and special districts are not subject to such a limitation and can therefore realize the more of the increase in revenue associated with the increase in property values.  I don’t have any information handy as to whether any other local taxing entity voluntarily limited their tax collection to less than the full increase in property value allowed under TABOR, but I am sure we could get that information if it would be of interest.

Thanks for acknowledging the senior homestead exemption program.  The Treasurer’s Office has worked very hard over the years to get eligible seniors enrolled in this state program.  Unfortunately, the State Legislature has limited this program to apply to only the first $200,000 in value on homes that have been occupied by that property owner for a minimum of 10 years.  With the high property values we see in Boulder County, this program does not provide a very meaningful level of tax relief for our residents.  Over the past several years, there have been attempts to make changes to expand this program, or look at other programs that could provide some level of tax relief, but, since the county does not have the ability to implement such programs without authority from the state, we need support at the legislature to make any of these changes a reality.

Given our complex property tax system, and the fact that almost 75% of the taxes collected are not under the authority of the county, it is difficult for the Commissioners alone to make any meaningful change in the amount or timing of property taxes paid by our residents.  I would welcome a dialogue to brainstorm ideas for local governments to work on together and with our state legislators to provide the kind of relief you request.  Please feel free to call me if you have any questions or want to continue this conversation.

Michelle Krezek
Commissioners’ Deputy
303-441-3561


From: Young, Mary [mailto:YoungM at bouldercolorado.gov]
Sent: Thursday, August 31, 2017 9:44 PM
To: Crystal Gray; Boulder County Board of Commissioners
Cc: Council
Subject: Re: Property taxes driving Middle Income out of Boulder


Dear Commissioners,



I share Crystal's concerns.



Do you have any plans to provide relief through some sort of mechanism?



Thank you!


Mary Dolores Young
Boulder City Council
303-501-2439

"All ethics . . . rest upon a single premise: that the individual is a member of a community of interdependent parts . . ." - Aldo Leopold
________________________________
From: Crystal Gray <graycrystal at comcast.net<mailto:graycrystal at comcast.net>>
Sent: Tuesday, August 29, 2017 12:29:08 AM
To: commissioners at bouldercounty.org<mailto:commissioners at bouldercounty.org>
Cc: Council
Subject: Property taxes driving Middle Income out of Boulder

Dear Commissioners:
(Please forward this to the Assessor)

I just want to let you know that I have heard from many residents (yes, I am a former elected official) that they are alarmed that the increase in their home valuations, and the resulting tax increase, will be  that they will be driven from Boulder due to these increases.

If you really value the middle income in our community why don't you consider a program for them like you have for senior residents - a tax deferent until they sell (or die - gasp) or a reduction if you have lived for 10 years or more. You could expand this program to include low income to middle income.  Of course there would some constraints as to ratio of mortgage debt as compared to ratio of appraised value.

Please do not be tone death to a real problem in our community but seek solutions to this issue.
Respectfully,
Crystal Gray
303-906-5509




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