LONE TREE, CO - The Lone Tree City Council will ask voters if Lone Tree's sales tax should be increased by 1%. The sales tax rate is 1.5% since 1995 has never increased. According to the Mapping Our Future publishing material, the city's revenue is waning even before the pandemic due to slowdowns in commercial development and increases in online shopping.
In comparison to the other municipality in Colorado, the City of Lone Tree has the lowest sales tax rate at 1.5% and the second-lowest sales tax rate is Centennial at 2.5%. There is an additional 0.3125% tax approved by voters to build recreation projects and The Lone Tree Arts Center, but Lone Tree's tax rate will remain the lowest.
The projection in the Mapping Our Future publishing suggests that there will be over $100 million cumulative gap between revenues and expenses over the next 15 years.
The 1% increase is deemed necessary for a long-temr financial security and to provide stabel city services, better infrastructure, public safety services, and improving parks, trails, and open spaces.
“Over the past year, the City undertook an extensive engagement effort to listen to our residents and businesses’ perspectives on service reductions verses revenue increases to address the fiscal challenges facing our community. The consensus was to increase revenues to maintain the services, character and quality of their hometown,” said Mayor Jackie Millet. “Residents understood that maintaining existing service levels was not possible at our current sales tax rate and even with a 1% increase Lone Tree sales taxes remain one of the lowest in the metro region.”
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