Attachment D - Model Notice

ATTACHMENT D Model Notice NOTICE OF INCLUSION IN METROPOLITAN DISTRICTAND POSSIBLE PROPERTY TAX CONSEQUENCES

Legal description of the property; See Exhibit A attached hereto and incorporated by reference This property is located in the following metropolitan district: [NAME OF DISTRICT] (the “District”) The District’s Service Plan (the “Service Plan”) and intergovernmental agreement between the District and the City of Boulder, which can be amended from time to time, include descriptions of the District’s powers, authority and limitations. A copy of the Service Plan is available from the Division of Local Government in the Colorado Department of Local Affairs. A copy of the Intergovernmental Agreement is available from the District or the City of Boulder. The District is authorized by Title 32, Article 1, Colorado Revised Statutes, to use a number of methods to raise revenues for capital needs and general operations costs. These methods, subject to certain limitations imposed by Section 20 of Article X of the Colorado Constitution and the Service Plan, include issuing debt, levying taxes, and imposing fees, tolls and charges. The maximum debt mill levy that can be imposed by the District is 50 mills, subject to adjustment as provided in the Service Plan. The maximum mill levy that the District can impose for operations and maintenance is 15 mills, subject to adjustment as provided in the Service Plan. Additionally, the District is required to impose a mill levy for regional improvements of 3 mills, subject to adjustment as provided in the Service Plan. Information concerning directors, management, meetings, elections, and current taxes are provided annually in the Notice to Electors described in Section 32-1-809(1), Colorado Revised Statutes, which can be found at the District office, on the District’s website, on file at the Division of Local Government in the Colorado Department of Local Affairs, or on file at the office of the Clerk and Recorder of each county in which the District is located. In addition to standard property tax identified on the next page, this property is subject to a metropolitan district mill levy (another property tax) of up to: [__] mills (total for debt service, operations and maintenance, and regional improvements), subject to adjustment, as described in the Service Plan Based on the property’s inclusion in the District, a commercial parcel with a sale price of $[____] 1

could result in ADDITIONAL annual property taxes up to; $[____] Based on the property’s inclusion in the District, a residential parcel with a sale price of $[______] could result in ADDITIONAL annual property taxes up to; $[____] Additionally, based on estimated growth of [__]% in assessed value upon biennial reassessment, as reflected in the Financial Plan attached as Exhibit F to the Service Plan, a commercial parcel with a sale price of $[____] would be valued at $[___] after the first biennial reassessment, and the property’s inclusion in the District could result in HIGHER annual property taxes after the first reassessment up to; $[____] Additionally, based on estimated growth of [__]% in assessed value upon biennial reassessment, as reflected in the Financial Plan attached as Exhibit F to the Service Plan, a residential parcel with a sale price of $[______] would be valued at $[___] after the first biennial reassessment, and the property’s inclusion in the District could result in HIGHER annual property taxes after the first reassessment up to; $[____] The Financial Plan estimates that the assessed value of property in the District will grow by [__]% upon each biennial reassessment, which could result in HIGHER property taxes each time the property is reassessed, despite the imposition of the same number of mills. The next page provides examples of estimated total annual property taxes that could be due on this property, first if located outside the District and next if located within the District. Note: property that is not within the District would not pay the ADDITIONAL amount. The District’s Board of Directors can be reached as follows; You may wish to consult with: (1) the Boulder County Assessor’s Office to determine the specific amount of District property taxes currently due on this property; and (2) the District’s Board of Directors to determine if the Service Plan has been amended.

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ESTIMATE OF PROPERTY TAXES Annual Tax Levied on Commercial Property with $[____] Actual Value Without the District Mill Levy: Taxing Entity

Mill Levies (20__**)

TOTAL

Annual Tax Levied Without Growth in Assessed Value $

Estimated Tax Levied in 20__ Assuming __% Growth at Biennial Reassessment $

$

$

Annual Tax Levied on Commercial Property with $[____] Actual Value With the District Mill Levy (Assuming Maximum District Mill Levy):

Taxing Entity

Mill Levies (20__**)

TOTAL

Annual Tax Levied Without Growth in Assessed Value $

Estimated Tax Levied in 20__ Assuming __% Growth at Biennial Reassessment $

$

$

Annual Tax Levied on Residential Property with $[____] Actual Value Without the District Mill Levy:

Taxing Entity

TOTAL

64661015.v2

Mill Levies (20__**)

Annual Tax Levied Without Growth in Assessed Value $

Estimated Tax Levied in 20__ Assuming __% Growth at Biennial Reassessment $

$

$

Annual Tax Levied on Commercial Property with $[____] Actual Value With the District Mill Levy (Assuming Maximum District Mill Levy):

Taxing Entity

Mill Levies (20__**)

Annual Tax Levied Without Growth in Assessed Value

TOTAL

$

Estimated Tax Levied in 20__ Assuming __% Growth at Biennial Reassessment $

$

$

**This estimate of mill levies is based upon mill levies certified by the Boulder County Assessor’s Office in December 20__ for collection in 20__, and is intended only to provide approximations of the total overlapping mill levies within the District. The stated mill levies are subject to change and you should contact the Boulder County Assessor’s Office to obtain accurate and current information.

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EXHIBIT A 99620894.v1

64661015.v2

Property Description