To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Trish Muller, CPA, Finance Director
Title
Ordinance Levying General Property Taxes on Behalf of the Castle Rock Downtown Development Authority for the Year 2023, To Be Collected in 2024 (Second Reading - Approved on First Reading on October 17, 2023, by a vote 7-0)
Body
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Executive Summary
Attached is an Ordinance levying general property taxes on behalf of the Castle Rock Downtown Development Authority for collection in 2024 (Attachment A). In August, the Douglas County Assessor certifies the total value of all personal and real property within the Authority. In December, a final certification of assessed values is rendered from the Douglas County Assessor’s Office.
Discussion
The Castle Rock Downtown Development Authority Board of Directors has requested Town Council to certify its mill levy of 3.000 mills, which is anticipated to yield approximately $226,114.
Financial Impact
As the final assessed valuation is received in December and the resulting property tax revenue will be reflected in 2024.
Staff Recommendation
Staff recommends that Town Council approve this Ordinance as written.
Proposed Motion
“I move to Approve the Ordinance as introduced.”
Alternative Motions
“I move to approve the ordinance as introduced by title, with the following conditions: (list conditions).”
“I move to continue this item to the Town Council meeting on _____ date to allow additional time to (list information needed).”
Attachments
Attachment A: Ordinance
Attachment B: DDA Mill Levy for 2024 Letter