SPECIFIC OWNERSHIP TAX REVENUE

Source: Residents and businesses of Parker

Collection: The State of Colorado established the statutory authority for collecting auto ownership tax. Specific vehicle ownership taxes are based on the year of manufacture and the original taxable value. The original taxable value is determined when the vehicle is new and does not change. Taxable value for passenger vehicles is 85% of the MSRP (Manufacturer’s Suggested Retail Price); for trucks the taxable value is 75% of the MSRP.

• 46% allocated to the school district

• 4% allocated to law enforcement

• 21% to Douglas County road and bridge, social services, debt service, capital expenditures and the general fund

• 29% disbursed to a variety of other districts, including the Town of Parker.

The Town of Parker receives its share via wire transfer from Douglas County into its main bank account on the 10th of the month following the month that the collection is processed by Douglas County.

• The historical growth is attributable to the increased population, number of vehicles owned and increased vehicle taxable value. The drop in 2022 is due to new and used vehicle purchases leveling off from the post-pandemic related surge in 2021. High vehicle prices and inventory shortages also impacted collections.