ASPEN, CO – In response to the recent reassessment of property values, Pitkin County Board of County Commissioners, in collaboration with Aspen Valley Hospital, approved the Pitkin County Low-Income Property Tax Relief Program which aims to mitigate the financial strain on homeowners and property owners, particularly those with lower incomes.
This income-based property tax relief program is designed to address the immediate needs of vulnerable community members and prevent undue hardship caused by potential increases in property taxes as a result of the significant increases in property valuations. The program demonstrates the County's commitment to the vibrant and contributing members who live, work and play in Pitkin County, and also contributes to the overall well-being and stability of the community.
Pitkin County experienced a significant increase in property valuations during 2022-2023, with actual valuations in 2023 reaching $70.4 billion, a 74% average increase over 2022 figures. As a result, on average, county-wide, property taxes rose 27% from 2023 to 2024. Understanding the challenges faced by lower-income households amidst these increases, Pitkin County Board of County Commissioners approved a new tax relief program tailored to support vulnerable citizens. Leveraging insights from its existing Low-Income Senior Tax Relief Program, the county aims to extend assistance to a wider demographic affected by escalating property taxes. Since 1990, the county has expanded its relief efforts, incorporating provisions such as fuel tax rebates, renter's assistance, and senior tax relief to ensure equitable support for its residents.
“Not only does this program offer critical assistance to those in need, it also reinforces our commitment to equitable support for all residents,” said County Commissioner Kelly McNicholas Kury. "By providing targeted relief to households facing property tax challenges, we are fostering economic resilience and addressing the evolving needs of our community."
Aspen Valley Hospital CEO Dave Ressler agrees, noting, “AVH has a vision for our community to be the healthiest in the nation, which is hampered by housing insecurity and financial pressures on our most vulnerable homeowners.”
The new property tax relief program targets households at or below 500% of the Federal Poverty Level (FPL). With approximately 52.6% of households in Pitkin County earning less than $75,000 annually, the program aims to provide relief to over 550 households, easing their property tax burden and promoting financial stability. By aligning eligibility parameters with local economic realities, the county aims to streamline the application process and maximize the program's reach.
Applications for the new property tax relief program can be found on the Pitkin County website at this link: https://pitkincounty.com/1611/Property-Tax-Relief-Program. Applications will be accepted until Aug. 2, 2024. To be eligible, applicants must own a free-market, non-deed-restricted home and have experienced an increase in their property taxes from 2023 to 2024. The program offers a minimum rebate of $50 and a maximum of $2,000, calculated on a sliding scale based on income. This program is distinct from the Low-Income Senior Tax Relief Program, but individuals who applied to the Senior Tax Relief Program in 2024 are automatically identified as applicants for this new relief initiative.
Pitkin County is dedicated to fostering economic resilience and addressing the evolving needs of Pitkin County residents. By providing targeted assistance to households facing property tax challenges, the county reaffirms its commitment to equity and community welfare. For questions about the program, citizens are encouraged to submit inquiries through this form or call (970)429-2865. Staff will promptly contact them with a response. Media inquiries should be directed to Pitkin County Manager, Jon Peacock at jon.peacock@pitkincounty.com.
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