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 2022, To Be Collected in 2023 (Second Reading - Approved on First Reading on September 20, 2022 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 2023 (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 $206,254.
Financial Impact
As the final assessed valuation is received in December and the resulting property tax revenue will be reflected in 2023.
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