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City Council Adopts 2016 Property Tax Levy and Budget

On Monday, December  7th, 2015 the City Council adopted the 2016 property tax levy and 2016 budget.  The 2016 budget sets forth the action plan of the City and priorities for staff, infrastructure improvements, and service levels. The budget was developed in the Joint Work Sessions with the City Council and Financial Commission during the months of June through November 2015. The total 2016 property tax levy adopted by the City Council is $15,368,235, which is a $590,205 (3.99 percent) increase from the 2015 adopted tax levy.  

The median value residential property in the City is $142,100 compared to the prior year value of $131,400, which is an increase in market value of more than 8 percent.  Residential property values are recovering, shifting the tax capacity from commercial, industrial, and apartments to residential. As a result most residential properties will see an increase in their property taxes for 2016. The median value residential property will pay approximately $825 in City property taxes in 2016 compared to $742 in 2015.

Significant initiatives in the 2016 budget include:

·      Capital improvement projects totaling $14.54 million, including Palmer Lake West Neighborhood Reconstruction, mill and overlay improvements on portions of 57th Avenue and Freeway Boulevard, a 57th Avenue Regional Trail, Sanitary Sewer Lining (South of I-694 to 57th Avenue) and the painting of Water Tower No. 3.

·      The issuance of $9.5 million of debt to finance capital improvements, primarily for street, water, sanitary sewer and storm drainage portions of the Palmer Lake West Neighborhood reconstruction project.

·      Creation of a full-time Fire Inspector position and the incremental expansion of duty crew shifts by 2.5 hours (12 hour model), which will allow the City to achieve the annual goal of completing all fire inspections and life safety education classes.

·      Continued development of Shingle Creek Crossing, the former Brookdale Square commercial site, and the former Cars for Heart site.

·      An allocation for a full slate of entertainment events at the new Centennial, Civic & Veterans Memorial Amphitheater which was completed late last year.

·      Expansion of police department outreach activities to build on already existing open gym activities, Safety Camp and Elementary School "cop talks".

·      Implementation of a new mobile recreation initiative, which will be a completely new line of recreation programming in 2016. Instead of hosting a program at a designated site, we will bring the programming out into the community. Program locations will be matched to areas with a high density of youth, ensuring the most critical areas of the community are served.

·      Continued programs to reduce domestic violence and youth crime
 

Please use the links below to view the Budget Executive Summary or the Complete Annual Budget.

2016 Executive Summary, Public Hearing Budget Presentation 12-7-2015


Comprehensive Annual Financial Reports