KAJX

Basalt Approves Current Property Tax Rate With Ballot Issue 3A

Nov 5, 2019

Credit Molly Dove / Aspen Public Radio

 

Basalt voters have approved a measure that sets the town's property tax rate at its current 5.9 percent.

Town manager Ryan Mahoney says says he’s ready to look forward to the future after Tuesday's election. 

"The most exciting part for all of us staff and council is that we can keep our service level where it is now. I think that’s what feels the best," he said.

Without the passage of 3A, the town stood to lose about $700,000 dollars a year from its budget. 

The road to ballot issue 3A started earlier this year, when Basalt discovered that it might have violated TABOR, or Taxpayer’s Bill of Rights Amendment by raising its property tax rate. 

In 2009, during the Great Recession, the town lowered its property tax rate.  As the economy recovered, council raised the rate again, but never exceeded the pre-recession level.

However, according to TABOR, rates cannot be raised without voter approval, regardless of previous rates.

3A also says the town can adjust the property rate without going to the voters, as long as it doesn’t exceed 5.9.