Tax Districts Wait for Real Estate Rebound

Mancos, Dolores entities face declining revenues, lower property assessments

From the Cortez Journal


While Kinder Morgan’s development of CO2 had a positive impact on 2013 property tax revenue across the county, the impact on small tax districts has created some disparity. A few fire districts have had windfalls, while other fire districts, libraries and schools are waiting on the real estate market to help boost falling revenues.

In 2013, total tax revenue collection rose to 33.39 million from 32.57 million, an increase of about 3 percent. But some entities, including the town of the Dolores, fire districts, school districts and library districts in Mancos and Dolores saw a decline in revenue.

These small districts felt the built-in delay in calculating property values, said County Assessor Scott Davis. The 2013 values were derived from property sales that took place from Jan. 1, 2011, through June 30, 2012

Next year, the property values will be based on sales from Jan. 1, 2013, through mid-June 2014. Davis explained county assessors rely on market indicators to guide their evaluation. Click here to read rest of the article.

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