Ballot Language Explained
Ballot Question #1 : Consolidation
Assuming voter approval of Ballot Issue [#2], shall Tallyn’s Reach Metropolitan District No. 3 be included into and consolidated with Tallyn’s Reach Metropolitan District No. 2 and thereafter be known as the “Tallyn’s Reach Metropolitan District” for the purposes of:
- Reducing administrative costs;
- Eliminating redundant government services;
- Simplifying the community governance structure; and
without the consolidated district assuming any general obligation bonded indebtedness of the individual districts and without expanding the powers previously delegated to the individual districts and without aggregating the mill levy, revenue, expense and debt authorization or limitations previously authorized by the voters of each district pursuant to Article X, Section 20 of the Colorado Constitution?
What does it mean:
This ballot question is asking the voter if they approve consolidating Tallyn’s Reach Metropolitan District No. 2 and Tallyn’s Reach Metropolitan District No. 3 into one district called the Tallyn’s Reach Metropolitan District”.
The purpose of the proposed change is to:
- Reducing administrative costs;
- Eliminating redundant government services;
- Simplifying the community governance structure;
The new consolidated district will not incur any debt from the existinting districts and current mill levy debt of both districts will remain the same meaning houses in District No. 2 will continue to pay its remaining debt through 2022 and District No. 3 will pay its remaining debt through 2040. The governance and powers of the new consolidated board will not change.
Ballot Question #2: Mill Levy
SHALL TALLYN’S REACH METROPOLITAN DISTRICT TAXES BE INCREASED UP TO [$866,440] ANNUALLY, ASSUMING VOTER APPROVAL OF BALLOT QUESTION [#1], AND BY THE AMOUNTS, WHETHER MORE OR LESS THAN [$866,440], RAISED ANNUALLY THEREAFTER BY THE IMPOSITION OF AN AD VALOREM PROPERTY TAX LEVY OF: (A) 5.500 MILLS IN FISCAL YEARS 2022, 2023 AND 2024, WHICH IS ANTICIPATED TO GENERATE [$501,624] IN ANNUAL TAX REVENUE; (B) 7.500 MILLS IN FISCAL YEARS 2025, 2026 AND 2027, WHICH IS ANTICIPATED TO GENERATE [$684,032] IN ANNUAL TAX REVENUE; AND (C) 9.500 MILLS IN FISCAL YEAR 2028 AND EACH FISCAL YEAR THEREAFTER, WHICH IS ANTICIPATED TO GENERATE [$866,440] IN ANNUAL TAX REVENUE PROVIDED, HOWEVER, THAT IF, AFTER NOVEMBER 8, 2022, THERE IS A CHANGE IN THE RATIO OF ACTUAL VALUATION TO ASSESSED VALUATION OR OTHER CHANGE IN THE METHOD OF CALCULATING ASSESSED VALUATION, SUCH AD VALOREM PROPERTY TAX LEVIES MAY BE INCREASED OR DECREASED TO REFLECT SUCH CHANGES, SUCH INCREASES OR DECREASES TO BE DETERMINED BY THE DISTRICT BOARD OF DIRECTORS IN GOOD FAITH (SUCH DETERMINATION TO BE BINDING AND FINAL), SO THAT TO THE EXTENT POSSIBLE, THE ACTUAL TAX REVENUES GENERATED BY THE AD VALOREM PROPERTY TAX LEVIES, AS ADJUSTED, ARE NEITHER DIMINISHED NOR ENHANCED AS A RESULT OF SUCH CHANGES; OR BY SUCH LESSER AMOUNT AS NECESSARY TO PAY THE DISTRICT’S ADMINISTRATION, COVENANT ENFORCEMENT, DESIGN REVIEW, OPERATIONS, MAINTENANCE, CAPITAL RESERVE FUND AND OTHER SIMILAR EXPENSES; AND SHALL THE PROCEEDS OF SUCH TAXES AND ANY INVESTMENT INCOME THEREON BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT IN FISCAL YEAR 2022 AND IN EACH FISCAL YEAR THEREAFTER AS A VOTER-APPROVED REVENUE CHANGE WITHOUT REGARD TO ANY SPENDING, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, THE LIMITS IMPOSED ON INCREASES IN PROPERTY TAXATION BY SECTION 29-1-301, C.R.S., IN ANY YEAR, OR ANY OTHER LAW WHICH PURPORTS TO LIMIT THE DISTRICT’S REVENUES OR EXPENDITURES AS IT CURRENTLY EXISTS OR AS IT MAY BE AMENDED IN THE FUTURE, ALL WITHOUT LIMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED, RETAINED AND SPENT BY THE DISTRICT?
What it means:
Assuming the consolidation of the Tallyn’s Reach Metropolitan District is approved, the method of collecting administrative fees will have to change in alignment with the newly created district. The increase will be tiered in the following way:
- (A) 5.500 mills in fiscal years 2022, 2023 and 2024, which is anticipated to generate [$501,624] in annual tax revenue;
- (B) 7.500 mills in fiscal years 2025, 2026 and 2027, which is anticipated to generate [$684,032] in annual tax revenue; and
- (C) 9.500 mills in fiscal years 2028 and each fiscal year thereafter, which is anticipated to generate [$866,440] in annual tax revenue.
After November 8, 2022, if there is a change in the ratio of actual valuation or other change in the method of calculating the assessed value of properties this could cause an increase or decrease in annual collected tax revenues. These changes will evaluated by the Tallyn’s Reach Board of Directors to determine that the adjustment in revenues collected does not increase or decrease beyond what is deemed reasonable to ensure the funds are available to continue to pay the district’s administration, operations, maintenance, capital reserve fund and other similar expenses.
