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Home My WebLink About20232004.tiffMINUTES WELD COUNTY COUNCIL May 15, 2023 The Weld County Council met in regular session in full conformity with the Weld County Home Rule Charter at 6:30 p.m.. Monday, May 15, 2023, at the Weld County Administration Building, 1150 0 Street, Greeley, CO. ROLL CALL: The meeting was called to order by President James Welch. Councilmembers Cindy Beemer, Nancy Teksten, Elijah Hatch and Trent Leisy were present, constituting a quorum of members. Also present was Council Secretary Linda Kane. APPROVAL OF AGENDA : Councilmember Leisy made a motion to approve the agenda, seconded by Councilmember Hatch and carried. APPROVAL OF DOCUMENTATION: Approval of April 17 Minutes Councilmember Hatch made a motion to approve the May minutes, seconded by Councilmember Beemer, and the motion carried. REVIEW PROGRAM: Brenda Dones, Weld County Assessor Ms. Dones just sent out notices of value to property owners. The taxes are intended for local government. Property taxes stay local. She said location is what matters most when it comes to paying property taxes. Metro districts garner the most complaints. Ms. Dones said her office is receiving many complaints about higher tax fees, though Weld County is the third lowest in the state. Oil and gas is the most volatile taxable entity, making it hard to establish a steady budget. In Weld County, oil and gas pays 61.26% of taxes. In most counties, residential or commercial consumers pay the most tax. Ms. Dones said the overall impact of property values can be broken down as follows: • Residential increase of 38% • Commercial/industrial increase of 23% • Vacant land increase of 67% • Agricultural increase of 11% The tax bill increase in 2024 will be smaller, but how much smaller is yet to be determined. Please see Addendum 1 for the complete presentation. PUBLIC COMMENT: There was no public comment. Co MM vn ; Coy -I-; an S 07h-712.3 2023-2004 OLD BUSINESS: There was no old business. NEW BUSINESS: Coordinator Reports/Councilman Reports There were no councilmember reports. Bills Councilmember Hatch made a motion to approve bills, it was seconded by Councilmember Beemer and carried. o Weld County Phone Bill for April $25.09 o Award Alliance, Trent Leisy badges $17.50 ADJOURNMENT: By acclamation, the meeting was adjourned at 8:00 p.m. ___15/11L3 June 19, 2023 (e-19- Z3 C.. ncil President, James Welch Council Secretary, Linda Kane likA.U.AAL Pawnee National Grassland,, unless specifically exempt etual Value w ssess ent ate X Levy = Taxeue Property Tax formula Actual Value Established by the Assessor's Office Assessment Rate — Established by the legislature Mill Levy — Established by the local taxing authority Property Tax formula Actual Value X Assessment Rate = Assessed Value X Mill Levy = Taxes Due Different Type of Property $400,000 x - $27,060 x .095 = $2,571 Residential $400,000 x;x �;$111,600 x .095 = $10,602 Commercial $400,000 x $350,000 x .095 = $33,250 Oil and Gas Production Different mill levy due to location $400,000 x 6.765% $27,060 x = $2,571 Residential $400,000 x 6.765% = $27,060 x = $3,653 Residential *Assessment rates as of 4/12/2023 -- 2023 legislation might modify the rates 2022 Revenue Distribution -- Who Receives the Tax Revenue Distribution $8,000,000,000 $2,427,793,950 $4,000,000,000 $15,732,447,240 $11,764,028,910 2006 2007 2008 2009 2010' 2011 • 2012 2013 2014 2015 2016 2017 2016 2019 2020 2021 2022 Vacant Residential -.-Commercial . a lndustriaf -.-Agricultural and Gas State Assessed -°Residential ,.Commercial Industrial Agricultural -State Assessed Vacant Land $ 100,879,730 Residential $ 2,759,684,090 Commercial $ 1,345,627,780 Industrial $ 1,332,740,950 Agricultural $ 204,672,650 Natural Resources $ 34,748,860 Oil and Gas $ 11,495,262,740 State Assessed $ 1,491,725,200 Total $ 18,765,342,000 GREELEY SD #6 VARIATION IN TAXABLE ASSESSED VALUE BY LOCATION AS OF ,L2/2022 Dili VACANT LAND :u RESIDENTIAL To COMMERCIAL INDUSTRIAL SCI AGRICULTURAL ID OIL & GAS gm STATE ASSESSED EATON EATON PARK & RED: WELD 2023 Real Property Reappraisal Timeline Biennial valuation unless physical changes to property Can use up to 5 years of economic data if needed — back to 7/1/2017 Sales Base Period 1/1/2021 to 6/30/2022 Sates are time trended for econo is changes to 6/30/2012 Sales beyond 6/30/2022 are not used for the 2023 reappraisal 600 500 ;a 2120. EATON EVANS GREELEY JOHNSTOWN veralt I c Residential Increase of 38% Commercial/ Industrial Increase of 23% Vacant Land increase of 67% Agricultural increase of 11% The tax bill increase in 2024 will be smaller — how much smaller is yet to be determined Legislation Past Changes Gallagher repealed 2020 2021 - Assmt Rate reductions for 2022 Res 7.15% to 6.95%, Multi to 6.8% Ag 29% to 26.4% 2022 — Assmt Rate reductions for 2023 Comm 29% to 27.9% Res 6.95% to 6.765% 2022 — Value reductions for 2022 Exempt title manufactured <$28,000 2022 — Value reductions for 2023 Res $15,000, Commercial $30,000 Possible Changes SB23-303 and Prop HH —. Requires vote in November 2023 Senior exemption portability Reduces assmt rates for 2023 Increases value reductions for 2023 Creation of primary residence Provides backfill to taxing authorities in some circumstances Backfill paid for with TABOR Renewable Energy Production Real & PP Agricultural Real & PP Renewable Energy ABricultitral Land Multi -family housing (i.e. apartments) Primary res and primary multi- family Non -Primary res and rnulti-famil All other residential property Titled Manufactured Homes (i.e, M accounts) 6.765% (exempt first $15,000 actual floored at $1,000 assd) 6.765% (exempt first $15,000 actual floored at $1,000 assd) 6.765% (exempt first $15,000 actual floored at $1,000 assd) (<_ $28,000 is exempt HB22-1223) 6.7%.. (exempt first $50,000 actual floored at $1,000 assd) N/A 6.7% (exempt first $50,000 actual floored at $1,000 assd 6.7% (exempt first $50,000 actual floored at $1,000 assd) (40 $28,000 is exempt HB22-1223 6.7% (exempt first $40,000 actual floored at $1,000 sod) 6.7% (exempt first $40,000 actual floored at $1,000 assd) 6.7% (exempt first$40,000 actual floored at $1,000 assd) (<_ $28,000 is exempt HB22-1223 6.7% (exempt first $40,000 actual floored at $1000 assd) 6.7% (exempt first $40,000 actual floored at $1,000 assd 6.7% or 7.1% (<_ $28,000 is exempt HB22-1223) Hello