County treasurer reports $3.7 million in investment earnings; commissioners waive $5 minimum delinquent tax penalty

The San Juan County treasurer reported $3.7 million in investment earnings for the reporting period and presented a routine resolution to waive a $5 minimum penalty on delinquent property taxes for the coming tax year. “Two years ago… I had exceeded a million dollars in property tax investment earnings… And this year, we have earned $3,700,000 in investment income,” the county treasurer said during the board of finance session, praising administration and conservative laddering strategies for boosting returns. Why it matters: the treasurer noted the county’s investment portfolio has grown since FY2021 and that current strategies and interest-rate conditions produced higher returns; the board also voted to waive the modest $5 minimum penalty that applies to delinquent property taxes, a yearly administrative measure intended to ease small delinquencies going into the next tax year. The treasurer said returns were the strongest since June 2008 and described continued expectations for “decent earnings through 2025” based on laddered investments. Commissioners moved and approved resolution number 25-26-18 by voice vote during the board of finance session.