Homeowners’ tax break is trouble for La Plata County budget

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Homeowners’ tax break is trouble for La Plata County budget

State rule could deplete revenue an additional $800,000 in 2018
New construction is underway in Three Springs. A tax requirement in the Colorado Constitution means La Plata County could see $800,000 less in residential property tax revenue in 2018.
Heber Young, front, and Monti Bistline, both with Superb Builders, work on new construction Wednesday in Three Springs.
New construction is underway in Three Springs. An anticipated decrease in the assessment ratio for residential property in 2018 could add to a financial pinch for La Plata County. “It’s going to be ugly for the next few years,” said Assessor Craig Larson.
Estimate your property tax

If the residential assessment ratio decreases from 7.96 percent to 6.85 percent as projected, a county homeowner with a house appraised at $400,000 will pay about $38 less on this particular tax if his mill levy was 8.5 mills.
Multiply the appraised value ($400,000) by the assessment ratio (.0796). Then multiply the product by the county mill levy (.0085) to get the estimated property tax.
The figures in this calculation are used as an example and do not reflect the anticipated property tax change for all taxing districts, including special districts and school districts.

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Homeowners’ tax break is trouble for La Plata County budget

New construction is underway in Three Springs. A tax requirement in the Colorado Constitution means La Plata County could see $800,000 less in residential property tax revenue in 2018.
Heber Young, front, and Monti Bistline, both with Superb Builders, work on new construction Wednesday in Three Springs.
New construction is underway in Three Springs. An anticipated decrease in the assessment ratio for residential property in 2018 could add to a financial pinch for La Plata County. “It’s going to be ugly for the next few years,” said Assessor Craig Larson.
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