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Old 08-01-2014, 03:17 PM
 
Location: Mountain West
8 posts, read 12,425 times
Reputation: 20

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I've been researching Castle Rock (I'm a longtime southwestern Colorado resident) and I noticed that there is an extra component of property taxes for people who live in one of the Meadows subdivisions. It's not trivial. On a $400,000 actual value house it is somewhere between $800 and $1,000 per year. And that amount would be part of a total of $2,800 of property taxes per year in the Meadows--so it's a pretty big chunk of the total propery tax bill.

What does this money go towards? I've seen many homes in the various Meadows areas and they are quite nice, but I need to know if the quality of life there is worth an extra $1,000 per year.

Thanks for any information you can provide.
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Old 08-01-2014, 03:56 PM
 
Location: Just south of Denver since 1989
10,914 posts, read 29,415,494 times
Reputation: 7150
Probably for the infrastructure in the community.
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Old 08-02-2014, 09:33 AM
 
1 posts, read 1,568 times
Reputation: 10
It is probably a Special District Association that you are seeing the increase in taxes. Typically these districts cover infrastructure maintenance issues for the community, but not necessarily. I do not know specifically what these districts in the Meadows cover, but it is a huge master planned community (almost like its own city) and it would make sense that they would need to have some kind of mechanism for infrastructure maintenance, etc especially depending on who owns the infrastructure (City of Castle Rock or some other entity). I believe that some if not all Meadows homes have an additional property tax (mill levy) for a Meadows Metro District, depending on what part of the neighborhood you live in. Check out: [url]http://www.sdaco.org/transparency/userprofile.php?srchtxt=meadows&srch=Search[/url] for more information about the districts. Check out some homes available there too at [url]http://themeadowscastlerock.com/homes-for-sale-in-the-meadows-castle-rock-co/[/url]
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Old 08-02-2014, 10:28 AM
 
20,917 posts, read 39,207,929 times
Reputation: 19213
Quote:
Originally Posted by crhome View Post
... Typically these districts cover infrastructure maintenance issues for the community, but not necessarily. ...
God forbid we should pay for upkeep on our infrastructure; surely a communist idea.
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Old 08-02-2014, 04:31 PM
 
Location: OH>IL>CO>CT
5,238 posts, read 8,417,308 times
Reputation: 7191
Quote:
Originally Posted by noibs View Post
I've been researching Castle Rock (I'm a longtime southwestern Colorado resident) and I noticed that there is an extra component of property taxes for people who live in one of the Meadows subdivisions. It's not trivial. On a $400,000 actual value house it is somewhere between $800 and $1,000 per year. And that amount would be part of a total of $2,800 of property taxes per year in the Meadows--so it's a pretty big chunk of the total propery tax bill.

What does this money go towards? I've seen many homes in the various Meadows areas and they are quite nice, but I need to know if the quality of life there is worth an extra $1,000 per year.

Thanks for any information you can provide.
If you want a good background on this type of Special District tax, this webpage may be of interest:
http://clas-pages.uncc.edu/stephenbi...istricts26.pdf

Partial quotes:

"Special districts off er local governments and developers the opportunity to fi nance residential
infrastructure with relatively inexpensive long-term debt while passing the obligation to repay
that debt directly onto the ultimate consumer{the homeowner}. Special districts in Colorado were
first authorized by Title 32 of the Colorado Revised Statute to extend public services to rural
and unincorporated parts of the state. They became increasing popular in Colorado following
the passage of the Taxpayers' Bill of Rights (TABOR) in 1992."

"What e ffect does development district infrastructure fi nancing have on house prices? We expect
Colorado house prices for homes built in development districts to be lower than house prices for
similar homes built outside development districts."

So the tradeoff would seem to be pricing more than "quality of life". You as the home buyer are paying for the roads, sewers, etc to support your house. Instead of being spread across the entire county or town.

And if that isn't bad enough, wait until the next development is done by one of these "public-private partnerships" (like CDOT did with US36 and is about to do with I-70 in Denver.) You could end up "leasing" your roads and sewers for the next 50 years .
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Old 08-15-2014, 07:24 PM
 
Location: Mountain West
8 posts, read 12,425 times
Reputation: 20
Thanks for all the excellent answers. They are spot-on.
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