All homeowners within CPNMD jurisdiction will see a noticeable reduction in their property taxes owed this year thanks to a debt we paid-off early. This means that a homeowner with a house valued at $500,000 can expect to save about $410 this year and over $460 in 2018.
Like most forms of government, CPNMD’s annual budget relies on a combination of taxes, rates, fees and loans to cover its operating expenses. Our staff and Board of Directors have prioritized and put into practice financial stewardship, making this early debt pay-off possible.
So what does this mean for CPNMD's overall financial picture?
Paying off this debt means that we can decrease the amount of property taxes (i.e. mills) that we collect for the District. That means your overall property tax burden goes down for any property that you own within the District.
A mill levy is just one way we, and all property taxing jurisdictions in Douglas County, cover expenses. You’ve probably heard by now that water rates and fees are going up this year. This is based on a third-party rate study that reflects the actual cost of service to our customers.
As we discussed at our community open houses and public board meetings last fall, we’ve added a monthly renewable water fee in the amount of $15 per household. Because the bond election failed in May 2016 – one that would have allowed us to invest in much needed renewable water infrastructure – we began collecting a renewable water fee to pay for the most basic related needs.
We have a long way to go before we see full build out of renewable water infrastructure adequate to serve our community in the decades to come. We’ll be continuing our discussions with the community throughout 2017 to identify the best way to pay for this long-term project. If you haven't already, please sign-up for our email list so you don't miss out on any news or upcoming events.
We look forward to continuing our conversations with you!