How is the metro district funded?
The District is authorized to issue up to $11.0 million in General Obligation Bonds to finance the facilities, to be secured by the taxing authority of the District. The primary source of revenue for the District will be the proceeds from a property tax levied upon all taxable property with the District. A mill levy is added to the annual property tax bill and the resources from that levy are used solely for the benefit of property owners and the neighborhood. Additionally, fees may be imposed for facilities and services. The Alpine Mountain Ranch Metro District has been authorized to assess a mill levy up to 55 mills, although the current mill levy is 30.0 mills. Routt County then enters this mill levy into its calculations to arrive at individuals’ property taxes.
Related Questions
- How does Castle Pines North Metro District (CPNMD) draw together a monthly water budget for Castle Pines North?
- What is the process of a new city dissolving a metro district such as Castle Pines North Metro District?
- Does a city have more options than a metro district to obtain financing for water projects?
