Counties collects payment in lieu of taxes from feds
The Aspen Times
Aspen CO Colorado
The counties of the Roaring Fork Valley reaped about $2.7 million from the federal government for 2012 to offset the losses in property taxes on nontaxable federal lands within their boundaries.
Pitkin County received $1,281,933 from the Payment In Lieu of Taxes program, the U.S. Department of the Interior announced this week. That is up from $1,053,242 last year. Pitkin County has 565,010 acres of federal lands.
Eagle County’s payment jumped to $2,094,020 this year from $2,052,027 the prior year. Eagle County has 849,970 acres of federal land.
Garfield County saw an increase to $403,176 from $391,032, according to the Interior Department. It contains 1,186,992 acres of federal land.
The formula used to calculate the Payment In Lieu of Taxes funds is based on population and receipt-sharing payments in addition to the amount of federal land in the counties. The payments are in addition to funds counties collect for oil and gas leasing, livestock grazing and timber harvesting.
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