If approved, Issue 7A would allow RFTA to address current and future bus replacements, congestion reduction, trail maintenance and mobility improvements across the region. RFTA is asking for a 2.65 mill levy increase, as well as bonding authority, to fund major improvements from New Castle, through Glenwood Springs and Carbondale, to the upper valley communities.
The mill levy increase will cost homeowners an estimated $7.95 per month or $95.40 per year for a $500,000 actual market value home, which will be included on next year’s property-tax statement. The residential assessment is expected to drop in 2019. This will reduce the RFTA mill levy reflected on your 2020 property tax statement to an estimated $6.75 per month or $80.95 per year for a $500,000 actual market value home. Commercial property owners will see an estimated increase of $64.04 per month or $768 per year on $1 million of actual property value reflected on next year’s property tax statement.
Community outreach and research has shown that our region’s residents are very concerned about traffic congestion, the local environment and the impact of traffic to our quality of life. RFTA provides one of the most efficient and established ways to manage traffic congestion, as demonstrated by its successful role in reducing vehicle traffic during the Grand Avenue Bridge closure and its critical role in managing traffic at local events like Winter X Games.
Why is RFTA asking for a property tax?
This is the first time RFTA has sought a property tax. Operations are currently funded primarily by sales taxes, fares and service contracts. Additional sales tax was not an option because some jurisdictions were at the maximum allowed by law, and a hotel and lodging tax was not possible across the many jurisdictions that make up the RFTA system. A fare increase would not provide adequate funding, while at the same time possibly reducing overall ridership.