Annual Budget

Community growth
Castle Rock is a growing and changing community. Since 2010, the Town’s population has grown more than 26 percent. It’s important to accommodate for the community’s growth in the Town’s annual budget as the Town works to maintain its levels of service.

2016 Adopted Budget
The Town’s 2016 Adopted Budget focuses on six key priorities, as identified in the Town’s Strategic Plan:

  1. Provide outstanding public health and safety services
  2. Secure the community’s long-term renewable water future
  3. Create primary jobs, expand the tax base and improve the business climate
  4. Provide a safe transportation system, minimizing traffic congestion
  5. Provide an outstanding parks, recreation, trails and open space system
  6. Maintain community character and identity, with a particular focus on Downtown Castle Rock
Continuing to serve the community
Various initiatives are planned within these and other critical areas in 2016 to ensure the Town can maintain its levels of service next year and into the future. View the 2016 Budget in Brief document for details.

All of the planned initiatives can be accomplished without any tax increases or new taxes. The only increase in the cost of Town services the average resident can expect in 2016 is a 76 cent-per-month utility bill increase related solely to funding long-term water projects.
Property tax mill levy
The Town’s 2016 property tax mill levy rate is 1.474 mills, down from 1.703 in 2015. That means that Town property taxes on a $300,000 home will go down to only about $35 a year from the previous $40. The decrease is due to a provision in the Municipal Code that limits the Town’s property tax revenue growth to 5.5 percent over the previous year. Assessed valuations are expected to increase by over 20 percent, necessitating the proposed mill levy decrease.

Expenditures and revenues
The budget includes $199 million in expenditures and $165.4 million in revenues. This difference is due to the planned use of reserves for capital projects, including the North Meadows Extension and long-term water projects, which is a common and sound practice. 

Learn more about the Capital Improvement Projects.

Property taxes are expected to make up only about $1.1 million, or less than 1 percent, of the Town’s total 2016 revenues.

Additional financial information
Additional financial information and previous year's budget documents are available on the Town's Transparency Portal.

More information
Questions about our budget? Email the Finance Department or call 720-733-2227.