Mesa County property tax revenue set to decrease
Mesa County could take as much as a $500,000 hit from lowered property tax revenue this year, Assessor Barbara Brewer said Monday.
The likely drop in revenue will come despite a slight increase in real property taxes, which will generate about $168,000 in new revenue, based on a 1 percent, or roughly $15 million, increase in the county’s total assessed valuation of lands and buildings.
Business personal property taxes, which cover a wide array of business equipment, however, are likely to see a sharp revenue drop, one that will more than offset the real-property revenue gains, Brewer said.
“That’s a very rough estimate” at this point, Brewer said.
The county’s 2014 budget called for spending among major funds of $24.4 million, including a $14.1 million general fund.
The county’s assessed valuation grew by 1 percent to $1.448 billion, Brewer said in her final official report to the Mesa County Commission.
Brewer is in the final year of her second and final term allowed under term limits and credited the assessor’s office staff for its work.
Drops in the business personal property tax were slightly offset by increases in the value of natural gas produced in the county, she said.
Not all categories of personal property taxes were affected in the same way and Brewer said she is still combing through the lists to get a better sense of what economic sectors have been most affected.
The revenue reduction also is based on the existing 12.272 mill levy. The County Commission sets the mill levy in its budget-setting process later in the year.
Reduced revenue also will affect special districts, as well as School District 51, Brewer said.
Commissioners Steve Acquafresca and John Justman were present in the regular Monday meeting. Commissioner Rose Pugliese attended by conference call, having given birth on Thursday to her second child, a son.