While Kinder Morgan\u2019s development of CO2 had a positive impact on 2013 property tax revenue across the county, the impact on small tax districts has created some disparity. A few fire districts have had windfalls, while other fire districts, libraries and schools are waiting on the real estate market to help boost falling revenues.<\/p>\n
In 2013, total tax revenue collection rose to 33.39 million from 32.57 million, an increase of about 3 percent. But some entities, including the town of the Dolores, fire districts, school districts and library districts in Mancos and Dolores saw a decline in revenue.<\/p>\n
These small districts felt the built-in delay in calculating property values, said County Assessor Scott Davis. The 2013 values were derived from property sales that took place from Jan. 1, 2011, through June 30, 2012<\/p>\n
Next year, the property values will be based on sales from Jan. 1, 2013, through mid-June 2014. Davis explained county assessors rely on market indicators to guide their evaluation.<\/p>\n
\u201cWe don\u2019t value property, we report what the public is valuing property at. If they pay more for property, the values go up,\u201d Davis said.<\/p>\n
But he is hopeful values are on the uptick and recent market trends reflect a rise in Dolores and Mancos markets.<\/p>\n
Homes sales during the second quarter from April through June this year showed an average that may help these small tax districts. The average home-sale price countywide increased from about $165,000 in 2013 to about $186,000 in 2014 for the same three-month period.<\/p>\n
The Mancos area got a boost, with the average second-quarter sale price rising from about $188,000 to about $250,000, and the Dolores area saw an increase in average prices from $209,000 to $219,000.<\/p>\n
Small tax districts in Mancos and Dolores rely on these trends, and a healthy housing market could help make up for recent declines in revenue from 2012 to 2013.<\/p>\n
The Mancos Fire Department saw a decline from about $237,000 to about $218,000, a decrease of about 7 percent. The Dolores Fire Department had a decrease from about $336,000 to about $307,000, or about 9 percent.<\/p>\n
Library districts in Mancos and Dolores saw declines comparable to the fire districts.<\/p>\n
The Mancos Public Library\u2019s property tax revenue declined about 8 percent from about $310,000 from $285,000 in 2013. While the Dolores library tax revenue declined about 22 percent, from $296,000 to $230,000.<\/p>\n
Both school districts also saw a decline between 2012 to 2013 property tax revenues. Dolores saw a decline from $2.2 million to $1.96 million or about 11 percent. Mancos saw a decline from about $1.14 million to $1.08 million, or about 5 percent. However, schools receive Colorado Department of Education funds to offset falling revenues, and both school districts project an increase in revenue in their recently approved budgets.<\/p>\n