Joining SMART and funding wastewater treatment system/sewer lines to be decided by Rico voters
Notes from Sunday - June 30, 2019 Rico Board of Trustees Work Session at Prospector Restaurant.
Town of Rico will propose a 0.75 mill property tax increase so that Rico may join the San Miguel Authority for Regional Transportation. For a property with taxable value of $250,000, the annual property tax increase would be $13.50.
SEWER & WASTEWATER TREATMENT SYSTEM
1) Consultant is preparing an economic impact assessment of proposed sewer service to Rico business area.
2) Town of Rico Board of Trustees will resolve during its August 21, 2019 monthly meeting to place a property tax mill levy item to finance the proposed sewer and wastewater treatment plant on the November 2019 ballot and prepare the text of the ballot item.
3) Town of Rico will conduct a community meetings in August and September 2019 to discuss benefits of the proposed sewer and wastewater treatment plant.
SMART membership and related mill levy increase, and an opt-out from State of Colorado municipal broadband restriction, will also be subjects for the August 21, 2019 Rico Board of Trustees November ballot resolution.
1) No water system improvements requiring changes to Town of Rico property taxes will be proposed.
2) Town of Rico will provide information to citizens describing water system improvements which are underway: well pump automated remote control, water meters replacement.
- Gallagher rule has caused Colorado local government property tax revenues to decline over several years.
- Oakland has a higher property tax mill levy for part-time residents. This creates more revenue for Oakland, and is an incentive for part-time residents to rent their vacant homes to generate personal income to offset the property tax increase. Oakland has a housing shortage.
The proposed Town of Rico property tax mill levy increase for the sewer and wastewater treatment project is 30.628 mills, Rico Town Manager Kari Distefano explained Monday, July 1. Town of Rico has applied for a combination of U.S. Department of Agriculture and Colorado Department of Local Affairs loans and grants to fund the project.
The annual property tax revenue generated by the SMART mill levy will be $4,000, SMART presently subsidizes its Rico bus service $55,000 annually.