Eagle County sets $103.2 million budget | AspenTimes.com

Eagle County sets $103.2 million budget

Aspen Times Staff Report
Aspen, CO Colorado

EAGLE COUNTY ” The Eagle County commissioners approved a $103.2 million budget this week for 2008.

The projected expenditures will drop by about 16 percent from the spending this year, which was approved at $119.7 million, according to a county report. The county’s total mill levy is 8.499. It has remained the same since 2004.

Eagle County anticipates $105.6 million in revenues next year. The government’s goal is to maintain an annual reserve of at least 15 percent.

County employees will get a 5 percent cost of living adjustment. However, county research indicates the cost-of-living in Eagle County increased an estimated 7.5 percent in 2007, well above the national average.

On the revenue side, the county expects continued strong growth in sales tax revenues. Those revenues were up 9 percent in 2007 and are projected to increase another 6 percent next year.

“Property tax revenue is expected to increase by approximately 37 percent in 2008, due to construction of new buildings and increases in assessed valuations on real property,” said an introduction to the budget by County Manager Bruce Baumgartner.

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The county stretches from north of Vail to a section of the Roaring Fork Valley that includes El Jebel and part of Basalt.