Dear Editor: According to the 2024 preliminary budget for Ouray County, the general fund revenue is expected to increase by $1,004,879, or 53%, as a result of this year’s increase in assessed valuations. This windfall is due to a Colorado statutory calculation for property tax districts. However, there is an option for the county to take a temporary property tax credit to reduce its 9.074 general fund mill levy rate for 2024. By doing so, it would demonstrate to all county residents some revenue collection and spending restraint during inflationary times, when residents do not have a mathematical mechanism available for a 53% increase in their household income. Because assessed valuations are performed every other year, the 53% increase in county property tax revenue can reasonably be expected for 2025, as well. Note the term temporary property tax credit means that in the year following, the county may increase the mill levy rate up to its former 9.074, without needing to obtain voter approval. Thereby, it minimizes risk and gives flexibility to the county.
October 18, 2023
Without relief, county prioritizes more staff over taxpayers