ROARING FORK BROADCASTING COMPANY
Some low-income households will receive property tax relief in Pitkin County after bills soared an average of 27% for 2023.
Pitkin County commissioners on Tuesday approved a staff proposal to set up a rebate program designed for households making up to 500% of the federal poverty level, which would equate to income of $72,900 for an individual or $150,000 for a household of four.
“There will definitely be people who feel they got missed on this,” Pitkin County Manager Jon Peacock told commissioners.
Property values soared across Colorado in 2023 when counties completed a state-mandated revaluation of all properties. In Pitkin County, the cumulative actual or market value jumped $29.1 billion to $70.4 billion, an increase of 70%, according to Ann Driggers, the county’s chief financial and administrative officer.
The cumulative assessed value increased by $2 billion to $5.7 billion or 54.35%. However, because many taxing districts provided temporary mill levy credits and didn’t take the full windfall provided by the higher property values, property taxes didn’t increase at the same rate as property values. . The taxing entities that took the full tax amount were the Roaring Fork Transportation Authority, town of Basalt, Aspen Valley Hospital and Aspen School District.
“Countywide, total property taxes increased 27%,” Driggers wrote in a memo to the commissioners, noting that every bill is different based on the value of the property and the taxing districts that the property falls into. “Pitkin County property tax revenues increased 25% on average, and other taxing districts increased 28% on average.”
Nevertheless, it resulted in a hefty bump in property taxes for many people. Deed-restricted affordable housing didn’t face the same sized increase so owners of those residences aren’t eligible for property tax relief.
The commissioners directed the staff in late 2023 to work on a property tax relief program. A low-income senior property tax relief program has been in place since the early 1990s and will continue to be implemented separately from the new program.
Under the plan for non-seniors, owners of free-market units who live in the residences full-time, meet income criteria and can show they experienced an increase in their property tax bill will be able to apply. The tentative application period will be June 1 to July 15. Information will be available on the Pitkin County website closer to the application period.
Landercasper said the maximum rebate will be $2,000 and a minimum will be set as well. Rebates will be based on a sliding scale tied to household income.
“To come up with an exact number of the people this could impact is pretty difficult,” he said. “In order to qualify for the rebate, you’d have to have a verifiable household income (within) 500% of federal poverty level.”
A rough guess is that about 370 households in Pitkin County will qualify for the rebate, according to the staff memo.
The commissioners said they wanted their staff to set up a system for collecting feedback from applicants, in part to hear complaints from people who didn’t qualify. That will help establish similar relief programs, if needed, in the future.
“If we get it right the first time, I’d be amazed,” Commissioner Greg Poschman said. “I’m grateful that you’ve done the hard work so far.”
Commissioner Kelly McNicholas Kury said a family of four that is making $150,000 shouldn’t necessarily be classified as vulnerable but is still in need of help with an increasing tax bill.
Poschman, McNicholas Kury and commissioners Steve Child and Patti Clapper approved implementation of the program. Commissioner Francie Jacober was ill and absent from Tuesday’s meeting.