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El Paso County posts $2.9 million revenue surplus, $4.48 million TABOR overage in unaudited 2024 results
Summary
At its April 15 meeting the El Paso County Board of County Commissioners heard unaudited 2024 year-end results from CFO Nikki Simmons showing a $2.887 million positive variance to revenue budget, an estimated $4.477 million TABOR overage and a net addition of about $9.9 million to the county general fund balance.
Nikki Simmons, El Paso County chief financial officer, presented the county's unaudited 2024 year-end financial results to the Board of County Commissioners on April 15.
Simmons told the commissioners that revenues for the unrestricted general fund finished $2,887,000 over budget and that the county had about an $8,000,000 positive variance overall in unrestricted general funds once grant timing and other items were included. She said the county's TABOR (Taxpayer's Bill of Rights) overage for 2024 is $4,477,000 and estimated that, if refunded the same way as prior years, that would amount to roughly $19 per residential property on taxes payable in 2026.
Simmons attributed a $2,600,000 variance in property tax revenue primarily to a state backfill the county received but had not budgeted for. Sales and use taxes were 1.85%…
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