The Roaring Fork Transportation Authority (RFTA) is asking voters to approve a new property tax. Even if it passes, RFTA will have to make sacrifices.
In August, RFTA’s board agreed to ask voters for a 2.65 mill levy to fund the bus system going forward. RFTA and its financial advisor found the rate doesn’t mean the authority is suddenly fat and happy, financially speaking. The new property tax wouldn’t provide enough to create a comfortable buffer between revenues and expenses that banks look for.
According to Dan Blankenship, RFTA’s CEO, the 2.65 mill levy can work; RFTA, however, will need to replace buses every 14 years, as opposed to the federal recommendation of every 12. They'll also need to increase fares by at least 5 percent, every five years.
Blankenship will present these findings to RFTA’s board on Thursday in Carbondale.