Local news- Press Release
Highlands Ranch Metro District Colorado - Highlands Ranch Metro District Board Lowers Mill Levy 01 January 2100 ( news )
Highlands Ranch Metro District , state Colorado ( By Press Release office)
| 3| 0
The failure of Proposition HH in November 2023 led to a special legislative session to address rising property values and property taxes . Colorado Senate Bill 23B - 001 sought to address this problem by lowering the residential assessment rate from 6 . 765% to 6 . 7% . While this action provided some relief , individual local governments have the opportunity to provide additional relief by reducing their mill levy rate .
The Metro District’s maximum mill levy authorized by voters is 12 . 750 . The Metro District Board of Directors strongly believes in good financial stewardship and only collects what is needed to provide services and maintain our assets . For the last five years , the Metro District’s mill levy has been 11 . 205 or 12% less than the maximum authorized by voters . In response to the significant increase in home values , the board approved a mill levy for collection in 2024 that further reduces the mill levy to 10 . 110 , which is a reduction of 9 . 7% from 2023 .
The assessed valuation of residential properties in Highlands Ranch is up 30% year - over - year , but due to the financial diligence of the Metro District Board and staff , the subsequent increase in the Metro District’s revenues from property taxes is 13% - - or $2 . 6 million . These additional revenues will ensure continuity of operations and allow for investments in the community including:
Playground replacements and park improvements
Additions to the reserve funds for the Highlands Ranch Historic Park buildout
Parkway and fence replacements/improvements
Construction and maintenance of community trails
The Metro District’s Board and staff remain committed to strong financial discipline and providing value from every dollar collected by residents , and will continue to address fiscal challenges that face our residents and visitors .
PLAY the NEWS
* May be useful for visually impaired persons .
Press release information :
Direct link to press release:
Click here .
