Natasha Lovato /NewsBreak Denver
(Parker, Colo.) Parker officials warn the town may need to raise taxes to meet its needs.
Parker Finance Director Mary Lou Brown recommended the town consider raising taxes between 2025 and 2032 to meet projected expenses.
During a July 18 presentation to the town council, Brown said although the town's sales tax revenue will grow by 8% in 2023, revenue growth will slow as Parker nears build-out. That means revenue from building permits, property taxes, sales tax, use tax, and excise tax will decline.
It also means the town must either raise taxes or trim expenses between 2025 and 2032.
The town's public improvement department expects to spend $199 million on projects in the next decade.
Community leaders will discuss the next steps at upcoming town council meetings.