TC Res. No. 2004-48 LEVYING GENERAL PROPERTY TAXES FOR THE YEARTOWN OF AVON, COLORADO
RESOLUTION NO. 04-48
SERIES OF 2004
A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR
2004, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE TOWN OF
AVON, COLORADO, FOR THE 2005 BUDGET YEAR
WHEREAS, the Town Council of the Town of Avon has adopted the annual budget in
accordance with the Local Government Budget Law on November 9, 2004; and
WHEREAS, the amount of money necessary to balance the budget for general operating
purposes from property tax revenue is $1,369,775; and
WHEREAS, the amount of money to balance the budget for bonds and interest is
$737,885; and
WHEREAS, the 2004 valuation for assessment for the Town of Avon, as certified by the
County Assessor is $152,944,980.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, COLORADO:
Section 1. That for the purpose of meeting all general operating expenses of the Town of
Avon during the 2005 budget year there is levied a tax of 8.956 mills upon each dollar of the
total valuation for assessment of all taxable property within the Town of Avon for the year 2004.
Section 2. That for the purpose of meeting all bonds and interest of the Town of Avon
during the 2005 budget year there is levied a tax of 4.825 mills upon each dollar of the total
valuation for assessment of all taxable property within the Town of Avon for the year 2004.
Section 3. That the Mayor is hereby authorized and directed to immediately certify to the
County Commissioners of Eagle County, Colorado, the mill levies for the Town of Avon as
hereinabove determined and set.
ADOPTED this 14'' day of December, 2004
`g~tS OF A~,O~
ATTEST:
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Patty, c envy, Toys
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TO AVON, COL Z
Ronald C. Wolfe, Mayor
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Il
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Scott Wright, Finance Directoci-----
Date: December 1, 2004
Re. 2004 Property Tax Levy
summary:
Two resolutions levying property taxes for general operating, debt service and the Avon Metropolitan
District are also hereby submitted for adoption.
The property tax mill rates will be levied as follows:
o General operating purposes - 8.956 mills;
o Debt service - 4.825 mills, a decrease of .33 mills from 2003;
o Avon Metro District - 3.479 mills, a decrease of.14 mills from 2003
The decrease in the debt service mill rate is due to an increase in the Town's assessed valuation, as
well as a decrease in the annual debt service requirements for general obligation bonds due to the
recent refunding. The decrease in the Avon Metro District mill rate is also due to a increase in the AMD
assessed value.
Recommendation:
Staff recommends that Council adopt the resolutions discussed above as presented.
Town Manager Comments:
Attachments:
A - Resolution 04-48
B - Resolution 04-49
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