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Aspen council adopts 2025 mill levies, approves about $10.1 million in property tax revenue
Summary
At its Dec. 9 special meeting the Aspen City Council adopted Resolution 128, setting the city's fiscal-year-2025 mill levies (general purpose rate of 3.432 mills with a temporary 1.978-mill credit and a 0.650 stormwater levy), projecting roughly $10.1 million in property tax revenue split between the general fund and the AMP.
The Aspen City Council voted unanimously Dec. 9 to adopt Resolution 128 (series 2024), formally setting the city's mill levies for collection in 2025.
A city staff member told the council, "The 2024 actual value of real property for the city of Aspen is valued at $33,600,000,000," and reported an assessed value of $2,930,000,000. Staff said those figures produced a proposed general purpose mill levy rate of 3.432 mills with a temporary credit of 1.978 mills and a proposed stormwater levy of 0.650 mills. Projected property tax collections for 2025 were about $10,100,000, which staff said would be split roughly 50/50 between the general fund and the AMP.
Councilors pressed staff for clarity about the temporary credit and TABOR implications. A staff member explained the credit is recalculated annually and that taking the full allowable levy beyond TABOR would require voter authorization. "We are required by state statute ... to give our signed resolution back to the county by the 15th," the staff member added, noting a Dec. 15 submittal deadline.
After brief discussion, a council member moved to adopt the resolution and another seconded. The clerk conducted a roll-call vote and the resolution passed unanimously: Councillor Doyle — yes; Councillor Guth — yes; Councillor Hauenstein — yes; Councillor Rose — yes; Mayor Tory — yes.
What the council approved is the formal, statutory adoption of mill levies that staff had built into the city's 2025 budget. The vote completes a required step now that final county-assessed values are available; staff said the city will return the signed resolution to the county as required.
Clarifying details: staff reported the city's estimated general-purpose property tax revenue will rise roughly 6% for budget year 2025, reflecting a reported change in CPI of about 5.2% plus 0.8% growth from new construction. The transcript identifies "AMP" as the other fund receiving half the projected collections; the staff presentation did not define that acronym in the recorded discussion.
The council took no further action on the mill levy at the meeting; staff will file the adopted resolution as required by statute.
