07 altrevenue Demko

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Information about 07 altrevenue Demko
Education

Published on February 4, 2008

Author: Rina

Source: authorstream.com

Colorado Municipal League June 26, 2007:  Colorado Municipal League June 26, 2007 Protecting Your Maintaining and Strengthening a Communities Economic Base aka Ass ets Greg Demko Finance Director City and County of Broomfield Slide2:  How Do You Build a Fiscally Sustainable Community???? Do You Have a Plan?????? Slide3:  Broomfield Financial Plan to Build Out What are Your Assets? :  What are Your Assets? Buildings Infrastructure Water….. Employees EMPLOYERS TAXPAYERS TRANSPORTATION REVENUE GENERATORS i.e. Retail in Colorado Broomfield Top 10 Employers:  Broomfield Top 10 Employers Colorado Municipal League June 26, 2007 Broomfield County Wages:  Broomfield County Wages 2005 Total Wages $1,484.8 Million Source: Colorado Department of Labor and Employment. Colorado Municipal League June 26, 2007 Broomfield Top 10 Taxpayers:  Broomfield Top 10 Taxpayers Colorado Municipal League June 26, 2007 Assessed Valuation by Classification :  Property Tax Assessed Valuation by Classification Colorado Municipal League June 26, 2007 Slide9:  27 Development Agreements 8 Urban Renewal Districts 1996 Valuation 2006 Valuation Chg Real $960 Million $6 Billion+ +625% Assessed $231 Million $988 Million +327% Colorado Municipal League June 26, 2007 Broomfield Development Slide10:  Results???? 1996 Valuation 2006 Valuation Real $960 Million $6 Billion+ +625% Assessed $231 Million $988 Million +327% Interchange on Highway 36 Denver to Boulder cul de sac 3 Million sf new Retail – including Flatirons Crossing Mall Regional Headquarters SUN Microsystems World Headquarters Level 3 Communications Broomfield Event Center Redevelopment of existing local retail space Colorado Municipal League June 26, 2007 Colorado Municipal League June 26, 2007:  Colorado Municipal League June 26, 2007 Office and Industrial Space:  Office and Industrial Space Source: Broomfield Economic Development Corporation Activity Report, January 2006 Colorado Municipal League June 26, 2007 Colorado Government Sales Tax:  Colorado Government Sales Tax Source = CML Financial Conditions Growth in Retail Square Feet :  Growth in Retail Square Feet Colorado Municipal League June 26, 2007 Slide15:  This means in 2006 for 1% of sales tax rate, Broomfield collects $1.98 per capita. The increase over ten years when compared to other cities is due to our strong economic base. SALES TAX Colorado Municipal League June 26, 2007 Colorado Municipal League June 26, 2007:  Sales Tax Collected by Retail Category Colorado Municipal League June 26, 2007 Slide17:  Property Tax This means that for 1 Mill, Broomfield collects $17.54 per capita. The increase over ten years when compared to other cities, despite a reduction in our total city mill levy, is due to our strong economic base. Colorado Municipal League June 26, 2007 Comparison to Predecessor Counties :  COUNTY PROPERTY TAX Comparison to Predecessor Counties By becoming a county, Broomfield saved its taxpayers $16.9 million over 5 years that would have been collected by the 4 former counties. Colorado Municipal League June 26, 2007 Slide19:  Broomfield Financial Plan to Build Out Colorado Municipal League June 26, 2007:  Colorado Municipal League June 26, 2007 Greg Demko Finance Director City and County of Broomfield GDemko@Broomfield.org 303-438-6313 Sales Tax Collections:  Sales Tax Collections $18.3m $29.1m $34.2m $34.9m $37.1m $39.4m $39.5m City and County of Broomfield $39.4m Colorado Municipal League June 26, 2007

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