From 2010 to 2017, La Plata County property tax revenues have decreased over 50% due to a nationwide reduction in the price and production of natural gas, which had formerly generated the majority of the county’s property tax revenue. Concurrently, the Gallagher Amendment has reduced the residential property tax assessment ratio, therefore reducing the property tax revenue available to La Plata County. With an 8.5 mill levy, La Plata County’s fiscal structure is not adequately fortified to support operating expenses to deliver county services. During this same period, the county’s population has grown by nearly 6,000, resulting in a corresponding increase in demand for services. The county’s Long-Term Finance Committee, appointed by the Board of County Commissioners to review revenue and expenditures trends with a view to identifying potential financial threats and opportunities and to make recommendations to maintain a structurally balanced budget and preserve the county’s fiscal soundness, has advised the Board of County Commissioners to pursue a strategy to increase and stabilize the county’s revenue structure.
Statewide