2025 Ballot Issue
The Buena Vista Public Library asks voters in the November 2025 election to approve a waiver from a 5.25% property tax revenue cap.
What is the 5.25% revenue cap?
In 2024, Colorado legislators passed a Bill to cap local governments’ revenue from property taxes to no more than 10.5% in a two-year assessment cycle. The Buena Vista Public Library is a local government, the Northern Chaffee County Library District. Previously, in 1995, voters allowed the library district to waive a cap on revenue. The 2024 law requires local governments to seek voter approval for a waiver again.
What does the waiver impact?
In the event that property tax revenue exceeds 10.5% growth in a two-year assessment cycle (5.25% per year), a waiver allows the library district to retain the excess revenue and apply it to operational or capital budgets. The library district’s revenues will parallel local property value growth. The library district can respond to increased operational costs associated with that growth. The waiver supports the library district in delivering consistent services and programs.
Quick Facts:
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6A does not create a new tax or affect the 2023 voter-approved mill rate. It allows the Library to collect its full mills in all years.
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6A restores the library district to its previous voter-approved funding capacity.
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6A positions the library district to meet its construction debt obligation, increase its services according to growth, and better prepare for long term capital project needs.
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For 5 of the past 10 years, the library district’s mill levy revenue from property taxes exceeded 5.25% growth. This revenue allowed the library to meet inflation impacts and not be limited in services, staffing, or service hours.