Letter: Do the math on rec center | AspenTimes.com

Letter: Do the math on rec center

Do the math on rec center

With the coming vote in the midvalley for a recreation center, there seems to be a great deal of questions on what the actual out-of-pocket cost to homeowners will be in the taxing district.

It is important to note that real estate taxes are a deduction against your gross income on your federal and state income tax return, just as the interest on your mortgage is a deduction.

So, if your real estate taxes go up $400, for example, the result is that your out-of-pocket cost is reduced by your tax rate. For example, if you are in the 30 percent tax bracket, or rate, your actual out-of-pocket cost is 30 percent less than the real estate tax increase. For example, a $400 increase in real estate taxes as a result of the Crown Mountain Recreation Center, at a 30 percent tax rate, would result in an out-of-pocket expense of only $280.

On the other hand, if you were to purchase $400 in ski equipment or bike gear, a dinner in Aspen, a River Valley Ranch summer tennis membership, an airline ticket, or a private membership in a health club, it would require you to earn $57. You would then pay the income tax on the $575, which would leave you with about $400.

The difference of $295 savings is a very strong argument for the Crown Mountain recreation center. As always, check with your personal tax advisor to access you personal tax situation. You might be saving even more.

Ted Bristol

Missouri Heights

Support Local Journalism

Support Local Journalism

Readers around Aspen and Snowmass Village make the Aspen Times’ work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User

Letter to the Editor

Aspen elitism disappointing

I’ve rented in Aspen for two months for the last three summers. I’ve met people at a small dog park, chatted with people at Maroon Bells and at the grocery. Regular folks who come to…

See more