From the Street

The Town of Eagle – got it right last week (26AUG2015) – but just barely.

Eagle-OutsideTheir Town’s Board to Trustees – voted to hold their proposed Sales Tax Increase vote in April 2016, not in November 2015.

Here is why – that decision is the CORRECT ONE.

FACT:  Virtually Everyone’s Taxes are already going up in Eagle County – due to the work of the office of Eagle County’s Property Tax Assessor – Mark Chapin.

That Property Tax increase “will affect” Families and Businesses in the February to April 2016 time frame!

Here’s how it’s going to affect YOU!

FACT:  Per Colorado State Statute – our Property Tax Mill Levy’s are voted on and set in December.  Those new Mill Levy numbers are then provided to the Eagle County Treasure’s Office (Karen Sheaffer – elected Eagle County Treasurer).  Per Colorado State Statute – it’s the Treasurer’s office that U.S. Mails out your new Property Tax bill in January 2016.  Your Mortgage Company also gets a copy of your new (INCREASED) Property Tax Bill in January 2016 as well.

Now your Mortgage Company knows (by how much) to increase your Monthly Mortgage ESCROW ACCOUNT that is used to pay your Annual Property Taxes!

Expect to see your Monthly Home Mortgage GO UP in the first few months of 2016.

We won’t know (how much) till after the Mill Levy’s are set this December 2015.

THE BOTTOM LINE IN EAGLE:   If Eagle voters want to vote themselves a Sales Tax Increase (April 2016) – right after their families and businesses absorb a Property Tax Increase – than the ECT folks say…”that’s up to them”.

FLASH NEWS:   This just in to the ECT (PM, Sunday, 30AUG2015)  New Taxes?  Yup.  The Town of Breckenridge and Vail Resorts (agree?) on a new Breckenridge Tax Proposal??   (Click Here)

-CM

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