Speaker 0: Or take. That's an introduction. Yes. All right. All right. Anything else? All right. Madam Secretary, if you please put the first item on our screen, you and Councilman Flynn, you want to go ahead with your questions on 13, 25, 26 and 27?
Speaker 3: Yes, Mr. President, thank you. I know that we do this every year, and and often there might be a committee hearing on it. This went through on consent. So I wanted to take the opportunity here while we have our one vote on setting the mill levy that's applicable this year for taxes collected next year, that the people watching, the people in the chamber here and the people watching on Channel eight understand just what's happening with the mill levy because there was a reassessment and so new values go into effect. And so, Stephanie, you are here to take a couple of questions. What I did notice is that the city's mill levy, combined mill levy, when you count all of the categories, is declining by nearly four mills. Can you explain first what happens to those mills? They don't just go away. They are parked in a you know, I guess we say bicycle right now and they can be reactivated if they fall within the other parameters of of two way from 2012. But have we determined have you talked maybe with the assessor to determine what would be the impact on an average property, an average residential property whose value might have gone up anywhere from 20 to 60% in the reassessment?
Speaker 2: So I'll answer your last question first. Okay. Thank you. Of course. And so I am looking at the totality of the of all the mills. So for those of you who are not aware, the city's portion is about 37% of the mills. Which Councilman, I'll talk a little bit about the accredited mills that we actually invoke. So the. Total mills for 2020 2019 with cuts in 2020 72.116. What that means for a household, let's say a residential husband of $400,000, is the number that we used. It actually increases 23.2%. So that would mean that last year's property tax on a $400,000 home would be $2,228, and this year it would be $2,541. That's 14%. And you'll notice there's a difference between the increase in those dollars and the percentage overall valuation. That is because that's primarily driven by the fact that the city is required to stay under what we call our to a cap 6% plus local growth. So as a result of that, what happens is we back into those. We reduce the mills to make sure that our growth only stays under that 6% plus local growth, which local growth for this particular assessment period was 2.1%. And so we credit those mills and we accumulate those credits. We do have the ability to activate those on non assessment years. Again, we have to stay under that 6% plus local growth cap. The amount that will be credited specifically for two way was about 1.9 mills. I'm going to preemptively answer a question you didn't ask, which is in totality, what's our total accredited mills?
Speaker 3: That was my next question.
Speaker 2: And totally, we have an 8.692 mills credited in our bank, so to speak. We cannot activate all of those. Remember, it's ten about 6% cap that the value of those mills in 2020 valuation is $180 million, right.
Speaker 3: I don't think in 2012 when we passed to a that we ever anticipated we'd have that many inactive mills that much in the inactive mill category.
Speaker 2: That's correct. We've actually exceeded, I think that the amount those mills over what we had originally brought it down right as part of the two way we've actually exceeded that total.
Speaker 3: And is this a function of the the rather significant rise in property values that's driving the mills down?
Speaker 9: Yes, that's exactly right.
Speaker 3: Because even though the mill levy is going down for the city taxes, your property tax will still go up about 14. Did you say 14.
Speaker 2: 14% for all? Yes. And that's because.
Speaker 3: 400,000. Right.
Speaker 2: Every mill is worth more.
Speaker 3: Right. Okay. And the DPS, the Denver Public Schools Mill Levy, which is the next I think it's 1326, is not something that we have the ability to when we we can't go in and change that. Is that correct?
Speaker 7: That's correct.
Speaker 3: Can we accept what DPS gives us is their calculation and we pass it or not?
Speaker 2: That's correct.
Speaker 3: Okay. And then for the special districts mill mills, that's the same sort of function. Correct. Okay. So the only one of these three resolution setting mill levies that we can impact is is the city and county of Denver.
Speaker 2: That is true. We you have passed a proposed budget content, assuming that come in.
Speaker 3: Correct. All right. That's all I have is for I just want to make sure that the public had a chance to. So when they open their bills, their tax bill, next February, I think they'll they'll understand a little better. Thank you. Thank you.
Speaker 0: Thank you, Councilman Flynn. All right, Madam Secretary, please put the next items on our screen. Councilman Flynn, you've called out. 1384, 1385 and 1386. What would you like us to do with these items?
A resolution levying upon all taxable property within the City and County of Denver taxes for the year 2019, to be collected in 2020, for purposes authorized by law.
Approves the annual City Property Tax Mill Levy for the year 2019 to be collected in 2020 for purposes authorized by law.  The Committee approved filing this item at its meeting on 12-3-19.