The 2018 budget provides for a property tax levy of 6.387 mills that translates to approximately $2.2M in property tax revenues. The District's tax base includes the following approximate sources:
59.7 % Commercial property
31.4 % Residential property
1.5 % Vacant property
7.4 % Personal property and state assessed lands *
* State assessed lands include the value of items such as private utility improvements, like Xcel electric lines or telecommunications phone lines, that are assessed on a statewide basis and shared with other local governments based on formulas that include population and geography.
All property owners pay the same property tax rate to the District. The District has no other fees or charges associated with properties located within its boundaries. The final budget is posted by January of the budget year. The 2019 budget was adopted by the Board in November 2018. It can be seen here (2019 Budget and Resolution).
Park Meadows Metropolitan District
The District received an unmodified (i.e., a clean) opinion from Haynie & Company, independent auditor for the District, for its 2017 audit. Receiving a clean opinion, coupled with the fact that the auditor had no adjustments related to the District’s 2017 financial statements, underscores the fact that the District is confident that it can rely on the financial information that is provided to its elected officials who are responsible for making financial decisions on behalf of the District.
The Board recognizes and appreciates its responsibility of serving as the District’s financial stewards. As such, the electorate can be assured that the District has sound financial reporting practices and controls.
The previous year audit is posted by July of the current year and can be reviewed here (link to 2017 Final Financial Statement with Independent Auditors).
On December 15, 2013, the District made its final principal and interest payment related to the Series 2006 Bonds. During 2012, the District paid off its Series 2002 Bonds. Currently, the District has no outstanding debt. This is an exceptional accomplishment for a Special/Metropolitan District in Colorado. The District is appreciative of the prudent financial management of its capital budget by this and prior Boards elected by the voters in the District since the District’s creation in 1982.
The District has no full time employees. The Board of Directors entered into an agreement with
Clifton Larson Allen LLP to provide day to day management of the District under the direction of
Mr. Chuck Reid. The District hires an independent attorney, accountant, and landscape services
through separate agreements.