ENGLEWOOD — The City of Englewood will have Issue 12 on the November 8 ballot, a renewal of a 1.65 mill levy for 5 years to cover current operating expenses. There will be no increase in taxes.
This general operating levy, initially passed in 1976, has been renewed every five years since inception.
Because it is a renewal, there is no change to the rate homeowners currently pay.
How much do I pay for this levy?
Property taxes are computed on the property’s assessed value, which is 35% of the appraised value. The appraised value of your property, determined by the county auditor, is available on the auditor’s website at mcrealestate.org.
1.65 mills translates to a tax levy of $0.165 for every $100 in assessed value. A property owner’s cost for a renewal levy is reduced by state rollback provisions. What does this mean? The effective rate of 1.65 mills passed in 1976 is “rolled back” to its original value 40 years ago: 0.47 mills on the 2016 property tax bill. So the tax levied on a property with a $100,000 appraised value is calculated as follows:
$100,000 appraised value x 35 percent = $35,000 assessed value ($35,000 x .47)/1,000 = $16.44 annually
Additional credits for owner-occupied, non-business properties lower this amount to around $14.39.
How is the money used by the city?
The county auditor estimates the total revenue generated by this levy is $121,975 each year. The money is used to help fund general operations such as safety services, park maintenance and leaf pickup.