GARFIELD COUNTY, Colo. (KKCO) Property tax revenue in Garfield County is expected to drop 26% in 2014, resulting in an $11 million drop in revenues.
However, an 18% increase of sales tax collections and careful scrutiny and planning should allow the balanced operating budget to continue to provide county services at the same levels they are now.
County revenues for 2014 are expected to be just over $101 million, while proposed expenditures would be nearly $126 million. When offset by carry forwards of just over $14 million, the result is about $10 million in new proposed capital projects.
A carry forward is usually a construction project budgeted in full in the first year of the project but then carried forward to future budget years as the project progresses.
Despite the loss in revenue, property tax revenue is foretasted to rebound in 2015.
Citizens can view the proposed budget online at the link below.